Monday, March 30, 2020 @ 12:00 am
Numab Therapeutics AG announced today an expansion of its relationship with Ono Pharmaceutical Co., Ltd. by executing another research and option agreement to discover and develop a multi-specific antibody drug candidate for the treatment of various cancers.
Similar to their earlier collaboration initiated in March 2017, under this new agreement, Ono has obtained an option to acquire from Numab exclusive rights to develop and commercialize an immuno-oncology drug candidate that will leverage Numab’s platform technology in order to actualize one of Ono’s novel therapeutic approaches. In exchange, Ono will pay to Numab up to CHF 260 million in upfront and milestone payments plus tiered single to double digit royalties on sales.
“Today’s announcement signals a mutual recognition of the quality and expertise that both parties have contributed under our earlier, ongoing agreement. Ono’s decision to enter another agreement based on Numab’s technology is a clear validation of our platform and highlights their commitment to include multi-specific antibodies as major component of their pipeline strategy in oncology,” commented Dr. Oliver Middendorp, Chief Business Officer of Numab Therapeutics. “In addition to ND023, which was initiated under our original agreement, we are excited to collaborate with Ono on yet another truly differentiated mechanism of action with this new project.”
Numab has ongoing relationships with a number of pharmaceutical companies including 3SBio / Sunshine Guojian, Eisai Co., Ltd., CStone Pharmaceuticals, Ono Pharmaceutical Co., Ltd., Kaken Pharmaceutical Co., Ltd., and Tillotts Pharma AG. Since its foundation, Numab has generated revenues in excess of CHF 50 million through partnering activities.