On March 31, 2022 Numab Therapeutics AG ("Numab") and Ono Pharmaceutical Co., Ltd. ("Ono") reported that Ono has exercised its option to enter into a development and license agreement for a multispecific antibody candidate that was generated through a research collaboration between the two companies initiated in 2017 (Press release, Numab, MAR 31, 2022, View Source [SID1234611311]). Under the terms of the license agreement, Ono acquires intellectual property rights and exclusive global development and commercialization rights for a multispecific antibody targeting a novel immuno-oncology target. In consideration for the discovery work and the license, Numab will receive up to CHF 258 million in research funding, upfront and milestone payments plus tiered single to double digit royalties on future sales.

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"We are proud to have advanced this novel multispecific antibody candidate against a new and very challenging immuno-oncology target to this milestone," said David Urech, Ph.D., Founder and Chief Executive Officer of Numab. "The licensing of the asset is an affirmation of our platform’s ability to create novel and unique pharmacology. We look forward to our continued partnership with Ono as we have been further collaborating on our shared mission of developing next generation immuno-oncology therapeutics for patients with cancer."

"We hope that the program candidate generated through our work with Numab will become a therapeutic option for patients with cancer who may benefit from this new treatment modality," said Toichi Takino, Senior Executive Officer / Executive Director, Discovery & Research of Ono Pharmaceutical. "Through the synergy between Numab’s multispecific antibody platform and Ono’s deep immuno-oncology expertise, we are continuously committed to fueling our diverse drug discovery efforts to advance our immuno-oncology pipeline."

In March 2020, Numab and Ono expanded their alliance by executing a second research and option agreement to discover and develop a multispecific antibody drug candidate for the treatment of various cancers.