On February 9, 2024, Shattuck Labs, Inc., a Delaware-incorporated biotechnology company, announced the entry into a significant collaboration and license agreement with Ono Pharmaceutical Co., Ltd. The agreement, effective February 13, 2024, will see both companies working together on the research and preclinical development of certain compounds from Shattuck's pipeline of bifunctional fusion proteins, targeting areas selected by Ono. Shattuck will lead the research activities under a joint research committee's oversight. Shattuck has granted Ono an exclusive option to license the resulting products globally, with the option period lasting until 90 days post the delivery of Shattuck's final research report. Financially, Shattuck stands to receive up to $9 million for initial and milestone payments during the research phase, and potentially up to...Show More

On February 9, 2024, Shattuck Labs, Inc., a Delaware-incorporated biotechnology company, announced the entry into a significant collaboration and license agreement with Ono Pharmaceutical Co., Ltd. The agreement, effective February 13, 2024, will see both companies working together on the research and preclinical development of certain compounds from Shattuck's pipeline of bifunctional fusion proteins, targeting areas selected by Ono. Shattuck will lead the research activities under a joint research committee's oversight. Shattuck has granted Ono an exclusive option to license the resulting products globally, with the option period lasting until 90 days post the delivery of Shattuck's final research report. Financially, Shattuck stands to receive up to $9 million for initial and milestone payments during the research phase, and potentially up to $217.5 million in additional milestone payments, plus royalties on global net sales, should Ono exercise its licensing option. The agreement also includes provisions for termination under certain conditions, including material breach and insolvency. Shattuck plans to file the full Collaboration Agreement as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending March 31, 2024.