Receptos and Ono Pharmaceuticals Expand Collaboration Agreement to Include Transfer of Receptos GPCR Technology Platform
December 10 2013 - 4:05PM
Receptos, Inc. (Nasdaq:RCPT) announced today that Ono has elected
to amend and expand the existing collaboration agreement between
the parties to include transfer to Ono of the Receptos
G-protein-coupled receptor (GPCR) technology platform, a
proprietary high resolution protein crystal structure determination
technology which enables rational drug design for the GPCR
therapeutic target class.
Under the terms of the collaboration agreement amendment,
Receptos will grant Ono a non-exclusive sublicense to intellectual
property relating to the technology, including patent applications
and proprietary know-how. Receptos will also conduct a program to
transfer technology to Ono, including efforts to determine a
protein crystal structure solution for an additional novel GPCR
that is a proprietary Ono drug discovery target. In return, Ono
will make payments to Receptos including an upfront fee and
milestones relating to successful technology transfer. Remaining
research and development milestones directed to an Ono proprietary
target designated under the existing collaboration agreement will
remain eligible for achievement.
"The expansion of the Ono-Receptos collaboration highlights the
continued delivery of valuable scientific expertise to our
partners," said Faheem Hasnain, President and Chief Executive
Officer of Receptos. "Transferring our proprietary GPCR technology
provides non-dilutive capital to Receptos, and demonstrates our
dedication to innovation in GPCR therapeutics by enabling our
strategic partners in the proprietary technology to facilitate
rational drug design for this important target class."
"The Ono-Receptos collaboration has provided strong validation
of the Receptos GPCR technology platform," said Kazuhito Kawabata,
Ph.D., Member of the Board of Directors, Executive Officer and
Executive Director, Discovery and Research of Ono. "Through this
collaboration, Ono intends to deploy the technology within our GPCR
research pipeline in order to build and strengthen our drug
discovery
capabilities."
About the Receptos GPCR Technology Platform
Receptos is the exclusive licensee of the GPCR crystal structure
determination technology platform from The Scripps Research
Institute and, together with scientific founder Raymond Stevens,
Ph.D., has an unparalleled publication record that includes the
identification of 21 distinct GPCR structures of 13 unique
receptors over the last five years.
Receptos utilizes rapid GPCR structure elucidation in
combination with a suite of purified protein assays and traditional
cell-based assays to provide an information-rich platform for GPCR
drug discovery. Small-molecule chemistry efforts benefit from a
multi-dimensional view of compound space, including direct
structural information, iterative co-crystal determination, mapping
of binding pocket mutations based on structural scaffolds and
analysis of compound effect on receptor stability. Antibody
discovery efforts may also benefit from the availability of a
purified active receptor population for use as an antigen for
panning or immunization as well as the potential for generating
antibody/receptor complex structures.
Several key attributes differentiate the Receptos platform,
including the ability to quickly assess and optimize targets for
high level expression, stability and crystallography feasibility in
three to four months. Utilization of near wild-type GPCR domains
for characterization and structure determination adds additional
integrity to the crystallography process. Receptos has proprietary
intellectual property directed to a panel of purified protein
assays to facilitate structure generation and early stage
discovery. Through collaboration, our structural biologists have
demonstrated a tight integration between discovery chemistry, cell
biology and structural biology.
The Receptos proprietary GPCR drug discovery platform is
available to collaborative partners for technology transfer and
structure determination and drug discovery for specific GPCR
targets. Receptos has an ongoing collaboration with Ono
Pharmaceuticals and concluded partnerships with Janssen
Pharmaceuticals and Eli Lilly.
About Receptos
Receptos is a biopharmaceutical company developing therapeutic
candidates for the treatment of immune and metabolic diseases. The
Company's lead program, RPC1063, is a sphingosine 1-phosphate 1
receptor (S1P1R) small molecule modulator candidate for immune
indications, including relapsing multiple sclerosis (RMS) and
inflammatory bowel disease (IBD). The Company is also developing
RPC4046, an anti-interleukin-13 (IL-13) antibody for an
allergic/immune-mediated orphan disease, eosinophilic esophagitis
(EoE). Receptos has established expertise in high resolution
protein crystal structure determination, biology and drug discovery
for G-protein-coupled receptors (GPCRs).
Forward-Looking Statements
Statements contained in this release, other than statements of
historical fact, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of
1995. The words "expects," "believes," "anticipates," "may,"
"intends," "plans," "potential," "will" and similar expressions are
intended to identify forward-looking statements. These
forward-looking statements do not constitute guarantees of future
performance. Investors are cautioned that forward-looking
statements, including without limitation statements regarding
development and future potential of the Company's product
candidates and the potential to receive payments relating thereto,
constitute forward-looking statements. Such forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those
anticipated. These forward-looking statements are based upon
the Company's current expectations and involve assumptions that may
never materialize or may prove to be incorrect. Actual results
and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of
various risks and uncertainties, which include without limitation
risks associated with the process of discovering, developing and
commercializing drug candidates that are safe and effective for use
as human therapeutics. These and other risks regarding the
Company's financial position and research and development programs
are described in detail in the Company's SEC filings, including the
Company's Quarterly Reports on Form 10-Q and the Registration
Statement on Form S-1 which was declared effective on May 8,
2013. All forward-looking statements contained in this release
speak only as of the date on which they were first made by the
Company, and the Company undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after such date.
CONTACT: Media and Investor Contacts:
Graham K. Cooper
Chief Financial Officer, Receptos
(858) 652-5708
gcooper@receptos.com
Michael Rice
LifeSci Advisors, LLC
(646) 597-6979
mrice@lifesciadvisors.com
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