PRISM BioLab Celebrates Milestone in Drug Discovery Partnership with Ono Pharmaceutical

PRISM BioLab Reaches an Important Milestone in Collaboration with Ono Pharmaceutical

In a significant development for the biotechnology field, PRISM BioLab Co., Ltd. has announced the achievement of an initial milestone in its ongoing drug discovery collaboration with Ono Pharmaceutical Co., Ltd. Based in Osaka, this collaboration has been marked by the receipt of a milestone payment, signaling progress in their collective efforts to target cancer development.

The two companies formed a Joint Research and Licensing Agreement on April 25, 2024, specifically aimed at drug discovery within the oncology sector. Under this arrangement, PRISM received an upfront payment alongside joint research fees, enabling the commencement of a joint research project that utilizes PRISM's innovative PepMetics® technology to identify clinical candidate compounds against targets proposed by Ono.

PepMetics® represents a groundbreaking approach, focusing on small molecules that target protein-protein interactions (PPIs). This technology is essential for discovering new drug candidates, especially those that have been historically challenging to address. The collaboration has progressed smoothly, leading to the successful completion of a milestone defined in the agreement, and PRISM is set to record the milestone payment as revenue in the first quarter of its fiscal year ending September 2026.

The precise amounts related to the milestone payment and the subsequent joint research funding remain undisclosed due to the confidentiality terms of the Agreement. However, it is noted that the total amount corresponds to approximately 80% of PRISM's net sales from the previous fiscal year ended September 2025. The joint research funding will be proportionally allocated throughout the next phase of collaboration.

This milestone not only represents a financial achievement for PRISM but also emphasizes the potential of their PepMetics® technology to transform drug discovery. PRISM's President and CEO, Dai Takehara, expressed his excitement, stating, "We are delighted to have achieved the first milestone in drug discovery research targeting previously challenging targets identified by Ono. This represents the collaborative efforts of researchers from both companies, and we are eager to advance to the next stage of our research outcomes."

The collaboration is set to continue, with PRISM and Ono expanding their research project and striving to develop groundbreaking new therapies for oncology. Additionally, the Agreement outlines multiple milestones, which will allow PRISM to receive further payments as the drug discovery research progresses. If clinical candidates lead to the successful commercialization of new drugs, PRISM will also be entitled to royalties based on sales.

PRISM BioLab stands at the forefront of utilizing an innovative approach to drug discovery through its PepMetics® technology. This unique methodology seeks to create orally available small molecule inhibitors that target a range of conditions, including cancer, autoimmune diseases, and fibrosis. With an ongoing collaboration with global pharmaceutical companies, PRISM is poised to make significant strides in the biotech field. Their partnership with Ono Pharmaceutical is just one example of their commitment to addressing tough challenges in drug discovery and enhancing patient care through innovation.

In summary, PRISM BioLab's recent milestone in collaboration with Ono Pharmaceutical exemplifies the promising future of drug development and the impact of cutting-edge technology in improving healthcare outcomes. With ongoing research and potential for further advancements, PRISM is set to solidify its place as a leader in biotechnology.

For more information about PRISM BioLab and their innovative PepMetics® technology, visit PRISM BioLab's official website.