Gil Roth12.13.11
Receptos has established an R&D collaboration with Ono Pharmaceutical for small molecule modulators of an undisclosed G-protein coupled receptor (GPCR) target. Receptos will use its proprietary technology platform to produce high resolution protein crystal structures of the discovery target and drive Ono's structure-based drug design efforts. Ono will pay an undisclosed upfront payment, as well as research funding and milestone payments.
"The selection of a collaborative target in the bioactive lipid class of GPCR receptors, where Ono has built a robust portfolio of products, is well matched with our company's expertise in the related sphingosine-1-phosphate receptor (S1P) target class," said Faheem Hasnain, president and chief executive officer of Receptos. "Furthermore, this collaboration represents another opportunity for us to realize the significant value of our technology platform by adding non-dilutive funding to Receptos as we build and advance our own pipeline of clinical-stage drug candidates."
Kazuhito Kawabata, Ph.D., executive officer and executive director, Discovery and Research at Ono, noted, "Receptos' GPCR protein crystal structure determination platform technology is highly regarded by Ono. This collaboration will strengthen Ono's drug discovery capability in our area of expertise and lead to enriching our pipeline of innovative drugs that can fulfill unmet medical needs."
"The selection of a collaborative target in the bioactive lipid class of GPCR receptors, where Ono has built a robust portfolio of products, is well matched with our company's expertise in the related sphingosine-1-phosphate receptor (S1P) target class," said Faheem Hasnain, president and chief executive officer of Receptos. "Furthermore, this collaboration represents another opportunity for us to realize the significant value of our technology platform by adding non-dilutive funding to Receptos as we build and advance our own pipeline of clinical-stage drug candidates."
Kazuhito Kawabata, Ph.D., executive officer and executive director, Discovery and Research at Ono, noted, "Receptos' GPCR protein crystal structure determination platform technology is highly regarded by Ono. This collaboration will strengthen Ono's drug discovery capability in our area of expertise and lead to enriching our pipeline of innovative drugs that can fulfill unmet medical needs."