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news.Ansaris, a division of US based Locus Pharmaceuticals, and a privately-held biopharmaceutical company focused on solving small molecule drug discovery challenges, has received a milestone payment from Ono Pharmaceutical.
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Earlier Ansaris and Ono Pharmaceutical have entered into drug discovery collaboration for the identification of a kinase-related compound for the treatment of cancer, inflammatory and autoimmune diseases.
Ono will initiate the preclinical study of the identified compound and will have worldwide rights to develop and commercialize such compounds for all indications.
Meanwhile, Ansaris will be eligible to receive milestone payments on the progress of preclinical and clinical development, and royalty payments based on sales of the resulting products.
Ansaris CEO Joan Lau said the collaboration validates the strength of the company’s platform and represents a significant achievement identifying compounds for challenging drug targets.
Ono Research Headquarters MD Kazuhito Kawabata said Ansaris generated a compound for a difficult drug target and we look forward to further successes from our collaborations.