Heptares Therapeutics (“Heptares”), a wholly owned subsidiary of Sosei Group Corporation (“Sosei”; TSE Mothers Index: 4565) announces that it has entered into a drug discovery and licensing agreement with Daiichi Sankyo Company, Limited (“Daiichi Sankyo”) focused on a single G protein-coupled receptor (GPCR) nominated by Daiichi Sankyo that plays a crucial role in relieving pain.

Under the terms of the agreement, Daiichi Sankyo will receive exclusive global rights to develop, manufacture and commercialize novel, small molecules discovered by Heptares focused on the nominated GPCR. In return, Heptares will receive an upfront payment of $4 million, research funding of approximately $8 million, and is eligible to receive additional research, development and commercialization milestone payments. In addition, Heptares will be eligible to receive royalties on net sales of products resulting from the alliance.

“This is a very exciting new collaboration as relieving pain presents a significant challenge,” said Malcolm Weir, Heptares CEO and Chief R&D Officer of Sosei. “We are confident that the unique structural insights of the receptor that our technologies can deliver combined with expertise on its role in pain from the Neurosciences team at Daiichi Sankyo will yield new, differentiated molecules that can be advanced into development.”