Ono exercises option to Fate's HER2 CAR T-cell candidate; Fate to receive $12.5M

FATE THERAPEUTICS INC

Ono exercised option to FT825/ONO-8250, triggering $12.5M option exercise fee to Fate.
Fate and Ono to jointly develop and commercialize the candidate in the U.S. and Europe; Ono has exclusive rights elsewhere.
Preclinical data showed broad, potent anti-tumor activity against HER2-low tumor cells.
Fate eligible for additional clinical, regulatory, and commercial milestones plus tiered royalties on sales outside US/EU.
Collaboration expanded to include a second solid tumor antigen program for preclinical development.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FATE THERAPEUTICS INC entered into Letter Agreement with Ono Pharmaceutical Co., Ltd. valued at $12.5 million (effective 2022-11-07).

Action: entry
Agreement: collaboration
Counterparty: Ono Pharmaceutical Co., Ltd.
Value: $12.5 million
Effective: 2022-11-07

Exact text from the filing

On November 7, 2022, Fate Therapeutics, Inc. (“Fate”) and Ono Pharmaceutical Co., Ltd. (“Ono”) entered into a letter agreement (“Letter Agreement”) in connection with the Collaboration and Option Agreement between Fate and Ono dated September 14, 2018, as amended by a letter agreement dated December 4, 2020 and an amendment dated June 28, 2022 (the “Agreement”).

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Source: SEC EDGAR

accession 0000950170-22-022488

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