Celgene Pays $340 Million For Gloucester And Its New Drug
This article was originally published in The Pink Sheet Daily
Celgene already sells several hematological cancer meds, so the deal shouldn't require new marketing infrastructure.
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A $100 million, non-dilutive investment will keep Acetylon off the market, giving Celgene the right to buy it for a minimum of $500 million up-front within a pre-determined time window. For now, Acetylon retains all rights to its pipeline, including Phase Ib multiple myeloma drug ACY-1215.
Now called Ceptaris, the company is awaiting FDA approval of mechlorethamine gel, a topical formulation of a cytotoxin, for early-stage CTCL.
With more than a dozen candidates in the clinic and a range of indications expanding outside oncology, the histone deacetylase inhibitor class could be poised to make major inroads. But much remains to be learned about the activity, and companies are scrambling to find biomarkers.