Ono Pharma licenses PV drug sapablursen from Ionis

Ono Pharmaceutical (TSE:4528) announced today that it has entered into a licensing agreement with Ionis Pharmaceuticals for sapablursen, an antisense medicine targeting TMPRSS6 for the treatment of polycythemia vera (PV). Under the terms of the agreement, Ono gains exclusive global rights to develop and commercialize sapablursen. Ionis will continue to manage development until the completion of an ongoing Phase II trial. Ono will then assume responsibility for further development and commercialization efforts. Ono will pay Ionis $280 million upfront, with potential milestone payments totaling up to $660 million. Additionally, Ionis will receive tiered royalties on future sales of sapablursen. The deal is subject to HSR Act requirements. Ono expects the impact on its consolidated financial results for the fiscal year ending March 2025 to be minor.