Merus N.V. (NASDAQ:MRUS) announces that collaboration partner Ono Pharmaceutical (OTC:OPHLF)(OTCPK:OPHLY) has exercised its option to enter into a new research and license agreement to use its Biclonics technology platform to develop a bispecific antibody targeting autoimmune disorders.
Ono's action triggers an undisclosed upfront payment to Merus as well as potential milestones and mid-single digit royalties on net sales.
The companies first teamed up in 2014 to jointly develop bispecific antibodies for autoimmune diseases. In 2016, Ono selected a lead candidate that it intends to advance into the clinic.
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