Ono Pharma takes up option on Biclonics technology platform
Japan’s Ono Pharmaceutical (TYO: 4528) has exercised its option under an agreement executed in April 2014 to enter into a new research and license agreement utilizing Netherlands-based Merus’ (Nasdaq: MRUS) proprietary Biclonics technology platform to generate a bispecific antibody that binds to a combination of targets designed for the treatment of autoimmune diseases.
In 2016, Ono selected a lead bispecific antibody candidate that it intends to advance into clinical testing. In the meantime, Ono has exercised its option under the first collaboration agreement and entered into this new collaboration.
The decision triggers an undisclosed upfront payment to Merus and Ono will fund research activities at Merus for the new program. Merus is also eligible to receive milestone payments upon achievement of specified research and clinical development milestones. For products commercialized under this agreement, if any, Merus is also eligible to receive a mid-single digit royalty on net sales.
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