Shattuck Strikes Joint Development Deal With Japan's Ono Pharma
By Rob Curran
Shattuck Labs struck a joint-venture deal with Japanese drugmaker Ono Pharmaceutical to develop treatments for autoimmune and inflammatory diseases.
Shattuck, an Austin biotech concern with a laboratory in North Carolina, will receive an undisclosed up-front payment and be eligible for licensing, regulatory, and commercial milestone payments of up to $227 million, and further tiered sales-based royalties.
Under the deal, Shattuck will lead research on certain compounds directed toward targets selected by Ono from Shattuck's pipeline of bifunctional fusion proteins. Shattuck's line of product candidates are intended to treat autoimmune diseases and cancer.
Ono will pay Shattuck's research and development expenses. Shattuck's R&D expenses totaled $59.1 million in the first nine months of 2023.
Ono would later have an option to conduct further research and commercialization worldwide.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
February 13, 2024 06:42 ET (11:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth