Xention teams with Ono for Ion channel R&D

The UK's Xention has  entered into an ion-channel drug discovery agreement with Osaka, Japan-headquartered Ono Pharmaceutical.

Under the terms of the deal, Xention will apply its proprietary  ion-channel drug discovery platform to the identification, design and  synthesis of small molecules against ion channels selected by Ono. The  Japanese firm will assume responsibility for subsequent preclinical and  clinical development, aas well as worldwide commercialization of  potential new pharmaceutical products arising from the collaboration.

Full financial terms of the accord have not been disclosed, however, Ono  will fund the two-year research program in its entirety. Xention will  also receive an upfront fee and milestones on meeting specified drug  discovery targets and on Ono's achievement of development and regulatory  goals. It will get royalties on the sales of successfully commercialized  products.