BioSeek is applying its proprietary BioMAP platform to perform phenotypic screening, hit identification, lead optimisation and clinical candidate selection on a target selected by Ono.

Under the three-year agreement, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.

Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration..

At 9:49am: (LON:ATD) share price was +0.38p at 2.75p

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