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Caris Life Sciences, Ono Pharmaceutical Ink Cancer Drug Development Collaboration

NEW YORK – Caris Life Sciences and Ono Pharmaceutical said Thursday that they have entered a strategic collaboration using Caris' molecular profiling technologies across several studies of investigational targeted and immune-based cancer therapies.

Under the terms of the agreement, Caris will provide its suite of next-generation sequencing services, including its comprehensive liquid biopsy assay, which assesses 22,000 genes in both DNA and RNA, to aid in the development of therapies in areas of unmet need.

According to the Osaka, Japan-based pharma firm, the collaboration will start with one initial Phase III trial, with additional targets to be determined later.

"Collaborating with Caris gives us the opportunity to utilize world-class advanced technologies to improve our novel drug development capabilities," Kiyoaki Idemitsu, executive officer and executive director of clinical development at Ono, said in a statement.

Financial terms of the deal were not disclosed.