Ono Licenses Asimadoline from Tioga

Tioga Pharmaceuticals and Ono Pharmaceutical Co., Ltd. have entered an exclusive license agreement under which Ono has licensed rights to develop and commercialize asimadoline in Japan, South Korea and Taiwan. Tioga retains all other rights to asimadoline.

Ono is responsible for developing and commercializing asimadoline in Japan, South Korea and Taiwan. Ono’s initial development of asimadoline will focus on diarrhea predominant irritable bowel syndrome (D-IBS). Tioga will receive an upfront payment and development and commercial milestone payments. Tioga is also eligible to receive royalties on sales of the drug in Japan, South Korea and Taiwan.

“We are pleased to gain rights to develop and commercialize asimadoline in Japan, South Korea and Taiwan from Tioga, a biopharmaceutical company focusing on developing novel treatments for gastrointestinal diseases. The medical needs of D-IBS patients currently are not well satisfied. Asimadoline is expected to provide features that are not offered by existing therapies. We will expeditiously promote the clinical development of asimadoline in Japan, and do our best to make the drug available for the D-IBS patients as quickly as possible,” said Gyo Sagara, Ono’s president, representative director and chief executive officer.

Tioga plans to initiate Phase III development of asimadoline for D-IBS in the U.S. in 1Q10, and Ono plans to start Phase I studies in Japan during 1H10.

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