PRISM BioLab, enters into a Joint Research and Licensing Agreement with Ono

PRISM BioLab will utilize PepMetics^®, innovative small molecules that mimic three-dimensional structures of alpha-helix and beta-turns of peptides for drug discovery against oncology target selected by Ono

TOKYO, April 25, 2024 /PRNewswire/ -- PRISM BioLab, Co. Ltd. ("PRISM"), a leading discovery and development biotechnology company designing small molecule inhibitors of protein-protein interaction (PPI) targets, today announced that it has entered into a target-exclusive research and licensing agreement with ONO PHARMACEUTICAL CO., LTD. ("Ono ").

Under the terms of the agreement, Ono and PRISM will jointly create a development candidate for Ono's oncology target using PepMetics^® technology. Upon identification of the development candidate, PRISM will license its rights to Ono for clinical development and commercialization. The deal includes upfront payments, pre-clinical, clinical and commercialization success-based milestones, royalties on future net sales, and other terms. Specific financial terms are not disclosed.

"We highly appreciate PRISM's PepMetics^® technology in PPI drug discovery", said Seishi Katsumata, Executive Director, Discovery & Research of Ono. "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."

"We are very excited to enter into this collaboration with Ono who has a history of creating innovative drugs. ", said Dai Takehara, President & CEO of PRISM Biolab. "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."

About Ono Pharmaceutical Co., Ltd.

Ono Pharmaceutical Co., Ltd., headquartered in Osaka, is an R&D-oriented pharmaceutical company committed to creating innovative medicines in specific areas. ONO focuses its research on the oncology, immunology, neurology and specialty research with high medical needs as priority areas for discovery and development of innovative medicines. For further information, please visit the company's website at https://www.ono-pharma.com/. 

About PRISM BioLab

PRISM BioLab is a discovery and development biotechnology company utilizing proprietary PepMetics^® technology to discover orally available small molecule inhibitors of protein-protein interaction (PPI) targets and transform lives of patients suffering from cancer, autoimmune, fibrosis and other diseases. PepMetics^® are a unique class of small molecules that mimic three-dimensional structures of alpha-helix and beta-turn, the peptide structures commonly found in intracellular PPI interphases and receptor-ligand interactions. By combining proprietary chemistry, know-how around PPI targets and AI-supported design, PepMetics^® technology can deliver inhibitors of challenging PPI targets. The technology holds promise to expand the field of drug discovery by turning previously undruggable PPIs into targets readily druggable with small molecules and by generating oral small molecule alternatives for injectable biologics.

PRISM BioLab is collaborating on new PPI targets with global and Japanese pharmaceutical companies. PepMetics^® targeting CBP/beta-catenin PPIs licensed to Eisai Co., Ltd.  and Ohara Pharmaceuticals Co., Ltd. are in clinical development for cancer and liver disease, respectively.

www.prismbiolab.com