Bristol-Myers Squibb licenses immuno-oncology agent from Ono Pharmaceutical

Bristol-Myers Squibb has received  an exclusive licence for the development and commercialisation of a new immuno-oncology asset from Ono Pharmaceutical.

Under the terms of the deal, Bristol-Myers Squibb will develop ONO-4578, Ono's phase I selective prostaglandin E2 receptor 4 antagonist, across a potentially broad range of cancer types.

Bristol-Myers Squibb will make an upfront payment of $40 million (29.78 million pounds) to Ono and will be solely responsible for the development, manufacturing and commercialisation of ONO-4578 and other PGE2 receptor antagonists in all countries of the world except Japan, South Korea, Taiwan, China and Association of Southeast Asian Nations countries.

The companies will also collaborate on discovery efforts to identify additional compounds from Ono's PGE2 receptor antagonist programmes that may demonstrate promise, thus further expanding the scope of an immuno-oncology alliance established in 2014.

Dr Fouad Namouni, head of oncology development at Bristol-Myers Squibb, said: "To improve long-term outcomes for more patients with cancer, we believe more immuno-oncology based combinations may be required, and we are pleased to continue our long-standing collaboration with Ono with this focus in mind."

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