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Ono-Xention deal targets ion channels
April 2009
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OSAKA, JapanóJapanese pharmaceutical company Ono Pharmaceutical Co. Ltd. announced in March that it has signed a drug discovery agreement with British ion channel-modulating drug developer Xention Ltd. that targets ion channels. Under the agreement, Xention will apply its proprietary ion channel drug discovery platform to design small molecule drug candidates having activity against ion channels selected by Ono.
 
Ono will perform clinical development and commercialization of any compounds of key pathophysiological importance. Ono will pay Xention an undisclosed upfront payment, research funding for the two-year research program, success-based milestones on the research and development progress and royalties on sales of the products arising out of the drug discovery collaboration. 
 
"We are delighted to be collaborating with Ono," said Xention CEO Dr. Tim Brears in a statement. "Ono is recognized as a leading Japanese pharmaceutical company, and we are pleased to be pooling our expertise in the development of an exciting class of new medicines."
 

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