BRIEF—Shionogi inks deal with American peptide engineering firm

Washington, USA-based PharmaIN Corporation and Japan’s Shionogi have agreed terms for a drug development collaboration based around the former’s peptide engineering technologies.

The deal, which includes an exclusive two-year option to negotiate a license for the resulting product, will see Shionogi making up to $17 million in equity investment in three tranches.

Senior VP Takeshi Shiota said: "Shionogi is very pleased to start this collaboration with PharmaIN, which has innovative platform technologies for drug discovery of various molecules including peptides, proteins and small molecules.”

PharmaIN CEO Elijah Bolotin said: "We've enjoyed working with Shionogi since initial proof of concepts and are excited to expand our collaboration to advance novel, first in class therapy to benefit many millions of patients.”