OSAKA,
Japan, Feb. 14, 2024 /PRNewswire/ -- Ono
Pharmaceutical Co., Ltd. (Osaka,
Japan; President and CEO: Gyo Sagara; "Ono") today
announced that it has entered into a drug discovery collaboration
and option agreement with Shattuck
Labs, Inc. (Austin, Texas,
USA; CEO: Taylor Schreiber;
"Shattuck") to generate bifunctional fusion proteins for pathways
involved in autoimmune and inflammatory diseases.
Under the terms of the agreement, Shattuck will generate fusion
proteins for certain targets using its proprietary protein
engineering technology and provide Ono with drug candidates for
further optimization and clinical development. Ono will have
an exclusive option right to develop and commercialize multiple
potential drug candidates to be created through this collaboration
worldwide. Ono will pay to Shattuck research funding, an up-front
payment, milestones on the progress of research and development and
commercialization, up to a total of $227
million, as well as tiered royalties based on net sales.
These fusion proteins are designed to modulate two targets
associated with autoimmune and inflammatory diseases. In
pre-clinical studies conducted by Shattuck, the bifunctional fusion
proteins demonstrated immunoregulatory effects and may show
efficacy on a broad range of immune and inflammatory diseases.
"We are actively working to create biologics in order to address
unmet medical needs for a wide range of diseases. We appreciate
Shattuck's proprietary research and development capabilities
and expertise in protein engineering enabling the generation of
functional biologics against therapeutic targets that have been
difficult through conventional technologies, and are excited
to work with Shattuck's team through this collaboration agreement,"
said Toichi Takino, Senior Executive
Officer / Executive Director, Discovery & Research of Ono
Pharmaceutical. "We hope to add bifunctional fusion proteins
discovered and developed by Shattuck into our portfolio to bring
innovative drugs for patients suffering from autoimmune and
inflammatory diseases as soon as possible."
"We are excited to embark upon this collaboration with Ono
Pharmaceutical, a leading Japanese pharmaceutical company with a
track record of scientific innovation, which was enabled by
Shattuck's protein engineering and development expertise with
complex fusion proteins," said Taylor
Schreiber, M.D., Ph.D., Chief Executive Officer of
Shattuck Labs. "We have prioritized
autoimmune and inflammatory diseases for a select group of
preclinical pipeline candidates as we continue to expand into areas
of high unmet need. This collaboration aligns with our strategy to
unlock further value from our bifunctional fusion protein platform
and scientific expertise."
About Shattuck Labs,
Inc.
Shattuck Labs, Inc. (NASDAQ:
STTK) is a clinical-stage biotechnology company pioneering the
development of bifunctional fusion proteins as a new class of
biologic medicine for the treatment of patients with cancer and
autoimmune disease. Compounds derived from Shattuck's proprietary
Agonist Redirected Checkpoint (ARC®) platform are
designed to simultaneously inhibit checkpoint molecules and
activate costimulatory molecules with a single therapeutic. The
company's lead SL-172154 (SIRPα-Fc-CD40L) program, which is
designed to block the CD47 immune checkpoint and simultaneously
agonize the CD40 pathway, is being evaluated in multiple Phase 1
trials. Shattuck has offices in both Austin, Texas and Durham, North Carolina. For more information,
please visit: www.ShattuckLabs.com.
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SOURCE Ono Pharmaceutical co., ltd.