RaQualia and Asahi Kasei Pharma progress their collaboration

RaQualia Pharma (TYO: 4579) says that its ongoing joint research with fellow Japanese drugmaker Asahi Kasei Pharma has moved to a new phase. Following the positive results from the collaborative research under the previous agreement, both companies have agreed to enter into a new research collaboration agreement focusing on discovery research for new therapeutic drugs targeting a specific ion channel.

The two companies have engaged in the joint research to identify new drug candidates under the joint research agreement concluded on November 19, 2013. Both firms will seek to achieve faster development of drug candidates by combining RaQualia’s core expertise in discovery research and Asahi Kasei Pharma’s extensive knowledge in drug development.

RaQualia will receive an undisclosed upfront payment from Asahi Kasei Pharma on the execution of this new agreement, and will be eligible to receive research milestone payments. Both companies will discuss further collaboration to expand their relationship.