Collaboration
Ion channel specialist Xention Ltd of Cambridge, United Kingdom, has signed a drug discovery agreement with Ono Pharmaceutical Co, Ltd. of Osaka, Japan, under which Xention will apply its discovery platform to the identification, design and synthesis of small molecules against ion channels selected by Ono.
Ono will fund the two-year programme and will be responsible for the subsequent development and commercialisation of any products arising from the collaboration.
No further financial terms were disclosed, however Xention will receive an upfront fee and milestone fees on meeting specified drug discovery targets and on Ono’s achievement of development and regulatory goals, and will receive royalties on sales.
Receive the Funding Newswire each Tuesday, our Policy Bulletin each Thursday, and news about bridging Europe’s east-west innovation gap twice a month in The Widening. 
