Memo Therapeutics will be collaborating with Ono Pharmaceuticals
Redalpine’s portfolio company Memo Therapeutics (RAC II) enters into a drug discovery collaboration agreement with the publicly listed pharmaceutical company Ono Pharmaceuticals (OPHLY). This is very good news for the entire Memo Therapeutics team and the development of the company.
As part of the deal, Ono Pharmaceuticals will pay Memo Therapeutics an upfront payment, provide research funding during the collaboration period as well as payments for clinical and sales milestones incl. royalties on future sales. In return, Memo Therapeutics will leverage its best-in-class microfluidic single-cell molecular cloning and screening technologies to discover antibodies for immuno-oncology targets. Ono will obtain intellectual property rights and worldwide exclusive rights to develop and commercialize the antibodies resulting from the collaboration.
“Ono, with their proven track-record in the immune-oncology space, is an ideal partner to advance this program. We are delighted to take this important step as the partnership recognizes our platform’s ability to identify high-value targets and create functionally superior antibodies not only for infectious diseases, but also in the immuno-oncology field,” said Dr. Christoph Esslinger, Chief Scientific Officer and founder of Memo Therapeutics AG.
We congratulate the entire Memo Therapeutics team for this major achievement.