SOUTH SAN FRANCISCO – BioSeek, LLC, a subsidiary of Asterand plc, announced Wednesday that the first research milestone has been achieved in the multi-year drug discovery collaboration with Ono Pharmaceutical Co.
BioSeek is applying its proprietary BioMAP platform to perform phenotypic screening, hit identification, lead optimization and clinical candidate selection on a target selected by Ono.
Under the three-year agreement, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.
?We highly value our relationship with Ono since it enables us to take full advantage of BioMAP?s power to discover and develop innovative new drug candidates,? said Jack Davis, Chairman and Interim Chief Executive Officer of Asterand. ?We are looking forward to the successful continuation and further achievements of the collaboration.?
BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. Depending on their mechanism of action, compounds induce specific patterns of changes in these systems (BioMAP profiles) that can be compared to a large number of reference profiles in the BioMAP Database. Assessment with BioMAP? provides early insight into human pharmacological and toxicological properties of compounds, including on-and off-target effects, dose responses, and the discrimination of closely related compounds.
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