As part of the new collaboration, the two companies will work together to co-create the candidate for the oncology target, leveraging PepMetics technology.
Once the development candidate is identified, PRISM BioLab will license its rights to Ono, which will then facilitate the further clinical development and commercialisation efforts.
The agreement includes upfront payments, as well as milestone payments based on the success of pre-clinical, clinical, and commercialisation efforts.
It also includes royalties on the basis of future net sales and other associated terms.
However, the specific financial details of the deal remain confidential.
PRISM Biolab president and CEO Dai Takehara said: “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.”
PRISM BioLab is a biotechnology company which leverages PepMetics technology for discovering orally available small molecules.
These molecules are designed to mimic the three-dimensional structures of alpha-helix and beta-turn peptides, which play a crucial role in protein-protein interactions (PPIs).
This technology has the potential to transform the drug discovery process, particularly for challenging PPI targets that have been considered undruggable.
The use of AI-supported design in conjunction with proprietary chemistry of PPI targets allows PRISM BioLab to generate oral small molecule alternatives for injectable biologics.
This could significantly impact the treatment of various diseases, including autoimmune disorders, cancer, and fibrosis.
Ono Discovery & Research executive director Seishi Katsumata said: “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.”