Repare Therapeutics Inc., a cutting-edge clinical-stage precision oncology company, announced that it has received a research service payment of approximately $1.5 million (¥200 million) from Ono Pharmaceutical Company as part of their 2019 Strategic Partnership Agreement. This payment signifies an important milestone in the development of Repare’s RP-2119 Polθ program, as the company looks ahead to initiating clinical trials in the summer of 2023. Kim A. Seth, Chief Business Officer of Repare, expressed enthusiasm for this significant step forward.
Ono Strategic Partnership Agreement
In January 2019, Repare announced an exclusive strategic research, development and commercialization partnership with ONO Pharmaceutical Co., Ltd., for its Polθ inhibitor program, RP-2119. The agreement covers Japan, South Korea, Taiwan, Hong Kong, Macau, and ASEAN countries, excluding mainland China, with Repare retaining all rights to develop and commercialize the products outside the ONO territory, including the US, Canada and EU. ONO paid Repare an initial upfront fee and research service payments, with additional research service payments triggered upon certain specified research triggers and the election by Ono to collaborate on the development and commercialization of a proposed product candidate. In October 2021, Repare became eligible to receive a portion of the research service payments, amounting to ¥100 million ($0.9 million).
About Repare Therapeutics, Inc.
Repare Therapeutics is on the cutting edge of precision oncology, utilizing its proprietary synthetic lethality approach to the discovery and development of novel therapeutics. The Company’s powerful CRISPR-enabled SNIPRx® platform is being used to identify and develop targeted cancer therapies focused on genomic instability and DNA damage repair. Currently, the Company is advancing the clinical development of RP-6306, a PKMYT1 inhibitor, and camonsertib (RP-3500), a potential leading ATR inhibitor, partnered with Roche. Additionally, the Company has several additional undisclosed preclinical programs in the pipeline. With this innovative platform and portfolio of promising programs, Repare Therapeutics is leading the way in the fight against cancer.
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Our company is committed to advancing our clinical and preclinical development pipeline, including our research and development program surrounding RP-2119. As part of this ongoing effort, we plan to conduct IND-enabling studies and clinical trials for RP-2119 in the near future. However, these forward-looking statements are subject to numerous risks and uncertainties, such as unexpected safety or efficacy data from preclinical studies, lower than expected clinical trial site activation or enrollment rates, changes in existing or expected competition, changes in the regulatory environment, and the uncertainties and timing of the regulatory approval process. Furthermore, our business, clinical trials and financial position are subject to macroeconomic conditions, such as the COVID-19 pandemic and rising inflation, as well as unexpected litigation or other disputes. We urge investors to review the “Risk Factors” section of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the SEC and the AMF, for more information.