---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-298869"
form_type: "8-K"
ticker: "EQ"
cik: "0001746466"
company_name: "Equillium, Inc."
filed_at: "2022-12-06T23:59:59+00:00"
generated_at: "2026-06-21T08:59:28.955831+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Equillium receives $26M upfront from Ono for itolizumab option; up to $138.5M in milestones

## Summary
- Upfront payment of $26.0M (¥3.5B) non-refundable; option exercise payment of $37.1M (¥5.0B) if exercised.
- Eligible for up to $101.4M development milestones, plus exercise payment, total up to ~$138.5M.
- Ono will fully fund Equillium's R&D for itolizumab quarterly from July 1, 2022 through option period.
- Option expires 3 months after topline EQUALISE (lupus nephritis) and interim EQUATOR (aGVHD) data.
- Equillium expects funding into 2025; advancing wholly-owned pipeline (EQ101, EQ102).

## SEC filing metadata
- accession: 0001193125-22-298869
- form_type: 8-K
- ticker: EQ
- cik: 0001746466
- company_name: Equillium, Inc.
- filed_at: 2022-12-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1746466/000119312522298869/0001193125-22-298869-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1746466/000119312522298869/d348600d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-298869
- JSON: https://secwatch.observer/filing/0001193125-22-298869.json
- Plain text: https://secwatch.observer/filing/0001193125-22-298869.txt

## Key facts
- Material Agreements
  Equillium, Inc. entered into Purchase Agreement with Ono Pharmaceutical Co., Ltd. valued at JPY 3.5 billion (effective 2022-12-05).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Ono Pharmaceutical Co., Ltd.
  - Value: JPY 3.5 billion
  - Effective: 2022-12-05
  source text: On December 5, 2022, Equillium, Inc., a Delaware corporation (the “Company”), entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Ono Pharmaceutical Co., Ltd. a Japan kabushiki kaisha (“Ono”), pursuant which the Company granted Ono the exclusive right, but not the obligation, to acquire the Company’s rights to itolizumab, a first-in-class monoclonal antibody targeting CD6 (the “Option”). In exchange for the Option, Ono will pay the Company a one-time, non-refundable upfront payment of an amount equal to JPY 3.5 billion, or approximately $26.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1746466/000119312522298869/0001193125-22-298869-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.