Wroclaw (GLOBE NEWSWIRE) - Captor Therapeutics S.A. (WSE: CTX), a leader in the development of Targeted Protein Degradation (TPD)-based drugs, today announces a worldwide drug discovery collaboration with Ono Pharmaceutical Co., Ltd. (Ono), to develop novel small molecule degrader drugs against a currently undrugged target of interest in neurodegenerative diseases.
Under the terms of the agreement, Captor will receive an up-front payment, R&D funding, and success-based milestone payments with a total value of up to €197 million, as well as tiered royalties based on global net sales. Captor will identify and characterise degrader drug candidates using its Optigrade™ TPD platform. Ono will be granted an exclusive option to license global rights to such candidates and will be responsible for further development and commercialization. No further financial terms were disclosed.
TPD is an approach using carefully designed small molecule drugs that can divert the body’s natural process for degrading proteins to eliminate specifically targeted disease-causing proteins. The selective destruction of such proteins is expected to have multiple advantages over classical drugs such as inhibitors and antibodies for the development of novel therapeutics against a broad range of diseases, including in common neurodegenerative diseases.
Dr. Tom Shepherd, CEO of Captor Therapeutics, said: “This global collaboration with Ono to apply our Optigrade™ TPD platform in neurodegenerative diseases is a testament to the promise of our discovery platform and the achievements of our R&D team as they advance our own degrader drug candidates towards the clinic in oncology and autoimmune diseases. Neurodegeneration is an area of widespread critical unmet medical need, where degrader drugs hold great potentials, and we are delighted to have a strong partner in Ono who brings the complimentary skills necessary to succeed in this therapeutic area.”
Toichi Takino, Senior Executive Officer / Executive Director, Discovery & Research of Ono Pharmaceutical, said: “We highly appreciate Captor’s Optigrade™ TPD platform and are excited to work with them in TPD-based drugs, an emerging new therapeutic modality. We hope that this new collaboration will lead to the creation of innovative drugs for patients suffering from neurodegenerative diseases."
About Ono Pharmaceutical Co., Ltd.
Ono Pharmaceutical Co., Ltd., headquartered in Osaka, is an R&D-oriented pharmaceutical company committed to creating innovative medicines in specific areas. Ono focuses its research on the areas of oncology, immunology, neurology and specialty research with high medical needs as priority areas for discovery and development of innovative medicines. For further information, please visit the company's website at https://www.ono-pharma.com/.
About Captor Therapeutics
Captor Therapeutics is a drug discovery and development company applying targeted protein degradation (TPD) technology to discover and develop breakthrough drugs for diseases with significant unmet medical need. TPD is a revolutionary approach to developing new drugs that can target new molecular targets considered "undruggable" using classical drug modalities and provide additional treatment options for diseases where existing drugs do not provide optimal treatment. Captor is currently developing treatments for undertreated serious conditions, including cancer and autoimmune diseases.
For more information on Captor Therapeutics, visit: http://www.captortherapeutics.com
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