Sibylla and Ono in big money CNS tie-up

Privately-held Italian firm Sibylla Biotech has announced a drug discovery collaboration with Japanese drugmaker Ono Pharmaceutical (TYO: 4528).

The collaboration will access Sibylla’s cutting-edge pharmacological protein inactivation by folding intermediates targeting (PPI-FIT) technology to identify and develop candidates for multiple therapeutic targets in the field of central nervous system (CNS) disorders.

"A key part of our strategy to increase efficiency in developing our pipeline in CNS areas"Under the terms of the collaboration, Sibylla is entitled to a total deal value in the three-digit millions of US dollars, including upfront payment, research, development and sales milestones, and royalties on sales. Further financial details on the collaboration have not been disclosed.