Ono Pharmaceutical Co., Ltd. announced that it has entered into a discovery collaboration agreement with EVQLV, INC, to generate novel antibodies against multiple targets selected by Ono, for the development of innovative antibody drugs. Under the agreement, EVQLV will generate and provide therapeutic antibody designs against multiple therapeutic targets selected by Ono, using EVQLV's proprietary Artificial Intelligence (AI)- powered Antibody Design Engine. Based on the antibody designs generated through the collaboration, Ono will generate potential antibodies to create, develop and commercialize antibody drug candidates.

During the research period, Ono will pay EVQLV research funding and success- based research milestone payments. Ono will retain option rights to exclusively and globally develop and commercialize the antibody drug candidates.