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news.Receptos, a biopharmaceutical company, has entered a collaboration with Ono Pharmaceutical of Japan for research and development of small molecule modulators of an undisclosed G-protein coupled receptor (GPCR) target.
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As per the collaboration, Receptos will use its proprietary technology platform to produce high resolution protein crystal structures of the discovery target and thereby help Ono’s structure-based drug design efforts.
Receptos will receive an up-front payment from Ono, besides research funding and success payments, including product development milestones based on the progress of the collaboration.
Receptos president and CEO Faheem Hasnain said the selection of target in the bioactive lipid class of GPCR receptors has matched their expertise in the related sphingosine-1-phosphate receptor (S1P) target class.
"Furthermore, this collaboration represents another opportunity for us to realize the significant value of our technology platform by adding non-dilutive funding to Receptos as we build and advance our own pipeline of clinical-stage drug candidates," Hasnain added.