Shattuck Labs and Ono Pharma collaborate on fusion proteins; upfront $9M, milestones up to $217.5M

Shattuck Labs, Inc.

Upfront payment plus research milestones total up to $9M; Ono reimburses all research costs.
Exclusive option for Ono to license compounds after research; exercise triggers up to $217.5M in development, regulatory, and commercial milestones.
Tiered royalties on global net sales: mid-single digit to low double digit percentages per product/country for 10 years.
Parties cannot commercialize products with same mechanism of action globally during the agreement term.
Ono can terminate on 90 days' notice; Shattuck can terminate if Ono abandons development after option exercise.

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

Shattuck Labs, Inc. entered into Collaboration Agreement with Ono Pharmaceutical Co., Ltd valued at Up to $9 million in upfront and milestone payments for research plan, plus potential milestone payme (effective 2024-02-13).

Action: entry
Agreement: collaboration
Counterparty: Ono Pharmaceutical Co., Ltd
Value: Up to $9 million in upfront and milestone payments for research plan, plus potential milestone payme
Effective: 2024-02-13

Exact text from the filing

On February 9, 2024, Shattuck Labs, Inc. (“Shattuck”) entered into a collaboration and license agreement (the “Collaboration Agreement”) with Ono Pharmaceutical Co., Ltd (“Ono”), effective February 13, 2024, pursuant to which Shattuck and Ono will collaborate in the research and preclinical development of certain prespecified compounds directed toward a pair of targets selected by Ono from Shattuck’s pipeline of bifunctional fusion proteins (the “Development Compounds”).

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Source: SEC EDGAR

accession 0001193125-24-032780

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