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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Ono Pharmaceutical Co., Ltd.    4528   JP3197600004

ONO PHARMACEUTICAL CO., LTD.

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Ono Enters into License Agreement on Cenobamate, an Antiepileptic Drug with SK Biopharmaceuticals

10/14/2020 | 12:24pm EST

Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President, Representative Director, Gyo Sagara; 'ONO') today announced that it has entered into an exclusive license agreement with SK Biopharmaceuticals, Co., Ltd. for the development and commercialization of cenobamate, SKBP's antiepileptic drug, in Japan.

Cenobamate, discovered and developed by SKBP, was approved for the indication of partial-onset seizures in adult patients by FDA in November 2019 and launched under the brand name XCOPRI in May 2020.

Under the terms of the agreement, ONO will have exclusive rights to develop and commercialize cenobamate in Japan. SKBP will conduct a Phase 3 clinical study with cenobamate for the treatment of partial-onset seizures in adult patients in Japan. Further, SKBP retains an option right for co-promotion activities with ONO in Japan.

ONO will pay to SKBP a one-time upfront payment of JPY5 billion and up to an additional JPY48.1 billion at the time of filing an application and its approval in Japan and if certain commercial milestones are achieved. ONO will also pay to SKBP double digit royalties based on net sales in Japan.

'We are very delighted to enter into this collaboration with SK Biopharmaceuticals on cenobamate discovered and developed by SK Biopharmaceuticals,' said Gyo Sagara, President, Representative Director of ONO. 'We hope that cenobamate will be a new treatment option for patients suffering from epilepsy in Japan.'

'We are very pleased to form a strategic partnership with Ono Pharmaceutical that will mutually benefit both sides,' said Jeong Woo Cho, President and CEO of SK Biopharmaceuticals. 'This agreement would give us an unprecedented opportunity not only to expand our presence in one of Asian largest pharmaceuticals market but also to further create social value by reaching out to patients with epilepsy in Japan.'

About SK Biopharmaceuticals Co., Ltd.

SK Biopharmaceuticals and its U.S. subsidiary SK life science are global pharmaceutical companies focused on the research, development and commercialization of treatments for disorders of the central nervous system (CNS). The companies have a pipeline of eight compounds in development for the treatment of CNS disorders, including epilepsy. Additionally, SKBP is focused on early research in oncology.

Both SKBP and SK life science are part of SK Group, one of the largest conglomerates in Korea. SK Holdings, the parent company of SKBP, continues to enhance its portfolio value by executing long-term investments with a number of competitive subsidiaries in various business areas, including pharmaceuticals and life science, energy and chemicals, information and telecommunication, and semiconductors. In addition, SK Holdings is focused on reinforcing its growth foundations through profitable and practical management based on financial stability, while raising its enterprise value by investing in new future growth businesses.

About cenobamate

Cenobamate was discovered and developed by SKBP and SK life science. While the precise mechanism by which cenobamate exerts its therapeutic effect is unknown, it is believed to reduce repetitive neuronal firing by inhibiting voltage-gated sodium currents. It is also a positive allosteric modulator of the -aminobutyric acid type A (GABAA) ion channel. Cenobamate is approved in the United States as an anti-seizure medication (ASM) for the treatment of partial-onset seizures in adults, and is available under the brand name XCOPRI (cenobamate tablets) CV. In early 2019, SKBP entered into an exclusive licensing agreement with Arvelle Therapeutics GmbH to develop and commercialize cenobamate in Europe.

About epilepsy

Epilepsy is a chronic brain disorder in which neuronal activity in the brain becomes abnormal, causing seizures. It is reported that there is about 1 million patients suffering from epilepsy in Japan. Although the majority of epilepsy patients require long-term medication, about 30% of patients have not been well controlled for epileptic seizures with currently available antiepileptic drugs. Epilepsy is still a disease with high unmet needs.

Contact:

Email: publicrelations@ono.co.jp

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ONO PHARMACEUTICAL CO., LTD. -1.29% 3055 End-of-day quote.-1.71%
SK BIOPHARMACEUTICALS CO., LTD. -0.66% 150500 End-of-day quote.-10.95%
SK HOLDINGS CO., LTD -3.95% 328000 End-of-day quote.36.38%
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Financials
Sales 2021 314 B 3 025 M 3 025 M
Net income 2021 72 971 M 703 M 703 M
Net cash 2021 105 B 1 015 M 1 015 M
P/E ratio 2021 21,0x
Yield 2021 1,60%
Capitalization 1 551 B 14 947 M 14 946 M
EV / Sales 2021 4,61x
EV / Sales 2022 3,93x
Nbr of Employees 3 560
Free-Float 76,6%
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Ono Pharmaceutical Co., Ltd. Technical Analysis Chart | 4528 | JP3197600004 | MarketScreener
Technical analysis trends ONO PHARMACEUTICAL CO., LTD.
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 3 622,73 JPY
Last Close Price 3 055,00 JPY
Spread / Highest target 37,5%
Spread / Average Target 18,6%
Spread / Lowest Target -5,07%
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Managers and Directors
NameTitle
Gyo Sagara President & Representative Director
Toichi Takino Managing Executive Officer & GM-Research
Kazuhito Kawabata Director & Managing Executive Officer
Hiroshi Awata Director & Executive Vice President
Isao Ono Director & Managing Executive Officer
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