Shattuck Labs (STTK) has released an update.
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Shattuck Labs has partnered with Ono Pharmaceutical to develop and potentially commercialize new drugs from Shattuck’s bifunctional fusion protein pipeline. Ono will select compounds to target and has the option to exclusively license the resulting products globally. Shattuck could receive up to $9 million for research milestones plus up to $217.5 million in additional payments, including royalties, if Ono exercises this option. Both companies have agreed not to market competing products, and the agreement allows for termination under certain conditions, with Ono covering costs incurred up to that point.
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