Ansaris Receives Milestone Payment from Ono Pharmaceutical Company, Ltd. under Drug Discovery Collaboration

BLUE BELL, Pa.--(BUSINESS WIRE)--Ansaris announced today that it has received a milestone payment for the successful identification of a kinase-related compound under its drug discovery collaboration with Ono Pharmaceutical Co., Ltd. Ono will initiate the preclinical study of the identified compound. This collaboration between Ansaris and Ono was established to focus on the discovery of kinase-related compounds for the treatment of cancer, inflammatory and autoimmune diseases. Under the terms of the Drug Discovery Agreement, Ono has worldwide rights to develop and commercialize such compounds for all indications. In return, Ansaris is eligible to receive milestone payments on the progress of preclinical and clinical development, and royalty payments based on sales of the resulting products.