Shattuck Strikes Joint Development Deal With Japan's Ono Pharma

By Rob Curran

Shattuck Labs struck a joint-venture deal with Japanese drugmaker Ono Pharmaceutical to develop treatments for autoimmune and inflammatory diseases.

Shattuck, an Austin biotech concern with a laboratory in North Carolina, will receive an undisclosed up-front payment and be eligible for licensing, regulatory, and commercial milestone payments of up to $227 million, and further tiered sales-based royalties.

Under the deal, Shattuck will lead research on certain compounds directed toward targets selected by Ono from Shattuck's pipeline of bifunctional fusion proteins. Shattuck's line of product candidates are intended to treat autoimmune diseases and cancer.

Ono will pay Shattuck's research and development expenses. Shattuck's R&D expenses totaled $59.1 million in the first nine months of 2023.

Ono would later have an option to conduct further research and commercialization worldwide.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

02-13-24 0642ET