Numab Therapeutics expands I-O research collaboration with Ono Pharma
Switzerland-based biotech Numab has expanded its relationship with Japan’s Ono Pharmaceutical (TYO: 4528) by executing another research and option agreement to discover and develop a multi-specific antibody drug candidate for the treatment of various cancers.
Similar to their earlier collaboration initiated in March 2017, under this new agreement, Ono has obtained an option to acquire from Numab exclusive rights to develop and commercialize an immuno-oncology (I-O) drug candidate that will leverage Numab’s platform technology in order to actualize one of Ono’s novel therapeutic approaches.
In exchange, Ono will pay to Numab up to 260 million Swiss francs ($272 million) in upfront and milestone payments plus tiered single to double digit royalties on sales. Ono Pharma’s shares were up 2.18% at 2,534 yen by close of trading today.
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