With Celgene Deal, Forma Makes First Foray Into Clinical Development
This article was originally published in The Pink Sheet Daily
Forma Therapeutics has signed its largest and most ambitious oncology drug-discovery and development collaboration to date, in the exciting but early-stage area of protein homeostasis. Its new partner Celgene is no stranger to making big bets on promising cancer companies.
You may also be interested in...
Amarin signed Kowa Pharmaceuticals America as a commercial partner for its fish oil pill, more than doubling the number of sales reps detailing the medicine. Forma signed a second drug discovery pact with Celgene, while Baxter bolstered its hemophilia franchise by buying out partner Chatham Therapeutics.
The big biotech signed an expansive collaboration with the drug discovery company spanning multiple targets and numerous therapeutic areas. Celgene agreed to pay $225 million upfront and could eventually buy the company.
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.