Ono inks I-O research collaboration with Memo Therapeutics

Adding to a string of recent research collaborations, Japanese drugmaker Ono Pharmaceutical (TYO: 4528) has signed a drug discovery agreement for drugs in the immuno-oncology field with Swiss biotech Memo Therapeutics (MTx), an innovator in the field of antibody discovery and development.

Under the deal, MTx will leverage its best-in-class microfluidic single-cell molecular cloning and screening technologies to discover antibodies for immuno-oncology targets. Ono will gain intellectual property rights and worldwide exclusive rights to develop and commercialize therapeutic drug candidates with antibodies resulting from the collaboration. In return, Ono will make an undisclosed upfront payment to MTx as well as research funding during the collaboration period, and milestones on progress of clinical development and sales, as well as royalties on future sales.

“We look forward to collaborating with Memo Therapeutics AG’s team of antibody scientists through this collaboration and hope that the candidates generated through our collaboration will add to our current portfolio of medicines to help cancer patients in immuno-oncology,” said Toichi Takino, senior executive officer an executive director, Discovery & Research of Ono Pharmaceutical.