Xention to collaborate with Ono Pharmaceutical on ion channel-modulating drugs
Xention, a Cambridge, UK-based biopharma company specialising in the discovery and development of ion channel-modulating drugs, has signed a drug discovery agreement with Ono Pharmaceutical of Osaka, Japan.
Xention, a Cambridge, UK-based biopharma company specialising in the discovery and development of ion channel-modulating drugs, has signed a drug discovery agreement with Ono Pharmaceutical of Osaka, Japan.
Under the agreement, Xention will apply its expertise to the identification, design and synthesis of small molecules against ion channels selected by Ono.
Ono will be responsibile for subsequent pre-clinical and clinical development and worldwide commercialisation of any new products.
Full financial terms have not been released, however Ono will fund the two-year research programme.
Xention will receive payments on meeting specified drug discovery targets and on Ono's reaching development and regulatory goals. Xention will also receive royalties on sales of any commercialised products.
"We anticipate the collaboration will result in identification of a novel drug with high clinical and commercial potential," said Dr Kazuhito Kawabata, md, research headquarters at Ono.
Dr Tim Brears, Xention's chief executive, added: "Ono is recognised as a leading Japanese pharmaceutical company and we are pleased to be pooling our expertise in the development of an exciting class of new medicines."
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