Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President, Representative Director, Gyo Sagara; 'ONO') today announced that it entered into a license agreement with Chordia Therapeutics Inc. on CTX-177, Chordia's MALT1 inhibitor and its related compounds.

Under the terms of the agreement, ONO will have exclusive global rights to develop, manufacture and commercialize CTX-177 and its related compounds. ONO will pay to Chordia JPY0.8 billion as an upfront payment and JPY2.5 billion at the time of starting Phase 1 clinical study, as one of development milestones. ONO will also pay to Chordia up to JPY49.6 billion if subsequent certain development and commercial milestones are achieved. ONO will also pay to Chordia high-single digits to low double-digit tiered royalties based on net global sales of CTX-177.

About CTX-177

CTX-177 is a selective inhibitor against a mucosa-associated lymphoid tissue lymphoma translocation protein 1 (MALT1), which is known to be involved in an intracellular signaling pathway in lymphocytic blood cells. Activation of MALT1 is reported to play an important role in malignancies of lymphocytes. CTX-177 is expected to exert anti-tumor effect against these malignancies by inhibiting of MALT1 activity. Preclinical data of CTX-177 was presented at the 62nd American Society of Hematology (ASH) Annual Meeting and Exposition held virtually on December 5 - 8, 2020.

About Chordia Therapeutics Inc.

Chordia Therapeutics Inc. is an oncology drug discovery and development company focusing on advancing innovative assets to deliver transformative therapies to cancer patients since its foundation in November 2017 at Shonan Health Innovation Park, Kanagawa, Japan.

Contact:

Email: publicrelations@ono.co.jp

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