ONO Entered License Agreement with PeptiDream Inc. on Automated Peptide Discovery Platform System (PDPS) Platform
Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President, Representative Director, Gyo Sagara; “ONO”) today announced that it has entered into a non-exclusive license agreement with PeptiDream Inc. (Kanagawa, Japan; President, Representative Director, Patrick Reid; “PeptiDream”) on PeptiDream’s proprietary automated Peptide Discovery Platform System (PDPS) technology platform.
Under the terms of the agreement, ONO will work to discover and develop novel pharmaceutical products that arise from use of the automated PDPS technology platform. ONO will pay to PeptiDream an upfront payment as well as milestone payments based on the achievement of certain development of pharmaceutical product candidates discovered from the use of the automated PDPS technology platform, and royalties based on sales of the products after launch.
High-affinity peptides will be identified through the use of the PDPS technology platform for new drug targets that have been suggested to be associated with specific diseases. ONO will also leverage the information obtained through the process, aiming to discover and develop innovative new drugs in a short period of time with high success rate.
“We highly appreciate PeptiDream's automated PDPS technology platform,” said Toichi Takino, Ph.D., Member of the Board of Directors, Executive Officer and Executive Director, Discovery and Research of ONO, “By using this platform, we will further enhance our corporate value by delivering innovative new products that meet unmet medical needs to patients as early as possible”.
“We are very much pleased by ONO’s decision to adopt our automated PDPS platform, which we believe is a fruit of their appreciation of the value of PeptiDream’s macrocyclic/constrained peptide screening technology,” said Keiichi Masuya PhD, Executive Vice President of PeptiDream. “With the automated PDPS platform, we are confident that ONO’s drug discovery and research efforts will be greatly accelerated, which will contribute to further advance the development of new therapeutics. We look forward to working with and supporting ONO not only through the automated PDPS platform and supplies of reagents but on all aspects related to our PDPS technology”.
About PeptiDream Inc.
PeptiDream Inc. is a public (Tokyo Stock Exchange 1st Section 4587) biopharmaceutical company founded in 2006 employing our proprietary Peptide Discovery Platform System (PDPS), a state-of-the-art highly versatile discovery platform which enables the production of highly diverse (trillions) non-standard peptide libraries with high efficiency, for the identification of highly potent and selective hit candidates, which then can be developed into peptide-based or small molecule-based therapeutics. PeptiDream aspires to be a world leader in drug discovery and development to address unmet medical needs and improve the quality of life of patients worldwide. For further information, please visit www.peptidream.com