Ono Pharmaceutical Co., Ltd. announced that it has entered into a drug discovery collaboration agreement with Adimab, LLC to discover and develop innovative antibody drugs in the oncology field. Under the terms of the agreement, Adimab will discover novel therapeutic antibodies against multiple targets selected by Ono and generate bispecific antibody product candidates. Ono will evaluate and develop such candidates at the pre-clinical and clinical stages.

Ono will have an option to obtain exclusive rights to globally develop, manufacture and commercialize the candidates to be generated through this collaboration. Ono will pay to Adimab an up-front payment, R&D funding, success-based milestone on research, clinical development and regulatory progress, as well as tiered royalties based on net sales.