Twist Bioscience To Develop Novel Antibodies With Ono Pharma

(RTTNews) - Twist Bioscience Corp. (TWST) announced on Thursday that it has signed a drug discovery agreement with Japanese pharma firm Ono Pharmaceutical Co., Ltd. (OPHLF.PK) to discover and develop novel antibodies for the treatment of autoimmune diseases.

Under the agreement terms, Twist will use its extensive library to discover antibodies against targets identified by Ono. The company will also receive research fees, success-based clinical and regulatory milestones, as well as royalties on product sales.

Ono on the other hand, will be able to utilize the expertise of the biopharma solutions team and project management services of Twist to evaluate new targets and generate comprehensive discovery campaigns.

The Japanese firm will also be responsible for the development, manufacturing, and commercialization of any products resulting from the collaboration.

On Wednesday, shares of Twist closed at $21.67, up 2.07% on Nasdaq and shares of Ono closed at $6.30 down 1.87%.