SAN DIEGO, Dec. 12, 2011 /PRNewswire/ -- Receptos Inc. announced today the establishment of a collaboration with Ono Pharmaceutical Co., Ltd. (Osaka, Japan) for the research and development of small molecule modulators of an undisclosed G-protein coupled receptor (GPCR) target. Under the terms of the agreement, Receptos will use its proprietary technology platform to produce high resolution protein crystal structures of the discovery target and drive Ono's structure-based drug design efforts. Receptos will receive from Ono an up-front payment, research funding and success payments, including product development milestones based on the progress of the collaboration.
"The selection of a collaborative target in the bioactive lipid class of GPCR receptors, where Ono has built a robust portfolio of products, is well matched with our company's expertise in the related sphingosine-1-phosphate receptor (S1P) target class," said Faheem Hasnain, President and Chief Executive Officer of Receptos. "Furthermore, this collaboration represents another opportunity for us to realize the significant value of our technology platform by adding non-dilutive funding to Receptos as we build and advance our own pipeline of clinical-stage drug candidates."
Added Kazuhito Kawabata, Ph.D., Member of the Board of Directors, Executive Officer and Executive Director, Discovery and Research of Ono, "Receptos' GPCR protein crystal structure determination platform technology is highly regarded by Ono. This collaboration will strengthen Ono's drug discovery capability in our area of expertise and lead to enriching our pipeline of innovative drugs that can fulfill unmet medical needs."
About the GPCR Class of Targets
GPCRs are a class of cell surface receptors conjugated with a G-protein, the signaling pathway of which is initiated by binding between the receptor and a hormone or bioactive molecule. GPCR targeted therapeutics comprise major drug classes
|SOURCE Receptos Inc.|
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