PRISM BioLab, Co. Ltd., a biotechnology firm specializing in the design of small molecule inhibitors for protein-protein interaction (PPI) targets, has announced a research and licensing agreement with Ono Pharmaceutical Co., Ltd.

Under the terms of the agreement, PRISM and Ono will collaborate closely to create a development candidate for Ono's oncology target, harnessing the cutting-edge PepMetics® technology pioneered by PRISM. Once the development candidate is identified, PRISM will license its rights to Ono for further clinical development and eventual commercialization.

The agreement encompasses a comprehensive package, including upfront payments, success-based milestones tied to pre-clinical, clinical, and commercialization achievements, royalties on future net sales, and other undisclosed terms. Specific financial details of the agreement have not been disclosed.

Seishi Katsumata, Executive Director of Discovery & Research at Ono, expressed high regard for PRISM's PepMetics® technology, emphasizing its potential to transform PPI drug discovery. Katsumata stated, "Through this drug discovery collaboration, we are excited to work with PRISM to identify and develop novel small molecule drugs for therapeutic targets that had been previously difficult to modulate with a small molecule, leading to further expansion of our development pipeline to address unmet medical needs across a broad range of diseases."

PRISM's President and CEO, Dai Takehara, echoed Katsumata's sentiments, expressing enthusiasm for the collaboration with Ono, a renowned innovator in the pharmaceutical industry. Takehara emphasized the potential of PRISM's PepMetics® technology to overcome existing challenges in drug discovery, particularly in targeting previously undruggable PPIs with small molecules. 

He stated, "We believe that our PepMetics® technology will change the current paradigm in drug discovery by turning previously undruggable PPIs into targets readily druggable with small molecules. Through close collaboration between creative scientists of both companies, we expect to generate innovative and game-changing drugs for the benefit of patients."