Ono Pharmaceutical Co., Ltd. announced that it has entered into a drug discovery collaboration agreement with PeptiDream Inc., (Kanagawa, Japan; President and CEO: Patrick C. Reid, PeptiDream), to discover and develop novel macrocyclic constrained peptide drugs against multiple targets of Onos interest. Under the terms of the agreement, PeptiDream will identify and optimize macrocyclic constrained peptide drug candidates for multiple targets of interest selected by Ono, by using PeptiDream s proprietary Peptide Discovery Platform System (PDPS) technology. Ono will obtain the exclusive worldwide rights to develop and commercialize such drug candidates.

Ono will pay to PeptiDream an up-front payment, research funding, and success-based milestone payments on research, development and commercialization, as well as tiered royalties based on global net sales.