Ono inks deal with Cue Biopharma for CUE-401

22 February 2023

Ono Pharmaceutical’s (TYO: 4528) shares closed down 2.3% at 2,784 yen today, after the Japanese drugmaker revealed it has signed a collaboration and option agreement with Boston, USA-based biotech Cue Biopharma (Nasdaq: CUE) for CUE-401, a bispecific protein designed to induce and expand regulatory T cells (Tregs) for the treatment of autoimmune and inflammatory diseases.

Investors initially pushed Cue’s shares up 4.7%, but these were down 0.8% at $3.04 by mid-morning.

Under the terms of the agreement, Ono will have an exclusive option to license worldwide rights to develop and commercialize CUE-401. Cue will also retain an option to develop and commercialize it jointly with Ono in the USA.

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