February 12, 1998
Memorandum Signed for New Research Agreement with Trega Biosciences, Inc. of the United States
Ono Pharmaceutical Co., Ltd. announced on February 12 that it has signed a
letter of intent with Trega Biosciences, Inc., a venture company in the
United States. This agreement will involve the optimization of lead
compounds discovered by Ono and the identification of low molecular weight
oral compounds relating to new targets in which Ono is interested.
According to the agreement, Ono Pharmaceutical will fund Trega's
research as well as make milestone payments during development and pay
royalties based on sales in return for worldwide rights to compounds
identified by Trega.
Ono Pharmaceutical and Trega Biosciences signed an earlier agreement,
in June 1997, on research to develop a drug that acts on melanocortin
receptors involved in inflammatory diseases. The objective of the current
agreement is to apply the combinatorial chemistry technology of Trega to
other targets in which Ono is interested.