News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Asterand plc (ATD.L)'s Subsidiary BioSeek Achieves a Research Milestone in Drug Discovery Collaboration With Ono Pharmaceutical Company, Ltd.


11/30/2011 9:51:55 AM

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--BioSeek, LLC, a subsidiary of Asterand plc (LSE: ATD), a pioneer in the application of predictive human biology to drug discovery, announced today that the first research milestone has been achieved in the multi-year drug discovery collaboration with Ono Pharmaceutical Co., Ltd., (“Ono”), where BioSeek is applying its proprietary BioMAP® platform to perform phenotypic screening, hit identification, lead optimization and clinical candidate selection on a target selected by Ono. Under the three-year agreement, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.

Read at BioSpace.com

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES