Xention, a Cambridge, U.K.-based biopharmaceutical company that discovers and develops ion channel-modulating drugs, will extend its collaboration with Ono Pharmaceutical. The two-year agreement between the companies began in March 2009. The collaboration has been successful in identifying multiple compounds that selectively modulate the function of target ion channels, and the two have agreed to extend the drug-discovery collaboration for another year.
Xention is applying its proprietary ion channel drug discovery platform to the identification, design and synthesis of small molecules against ion channels selected by Ono. Ono is responsible for subsequent pre-clinical, clinical development and worldwide commercialization of potential new pharmaceutical products arising from the collaboration.
Ono will continue to fund the research program in its entirety, and Xention will receive milestone fees on meeting specified drug-discovery targets and on Ono’s achievement of development and regulatory goals. Xention will also receive royalties on the sales of successfully commercialized products.