Celgene strikes $101m partnership in oncology, neurodegenerative and inflammatory
pharmafile | March 5, 2018 | News story | Research and Development, Sales and Marketing | Cancer, Celgene, Vividion, inflammatory, neurodegenerative, oncology, pharma
Celgene has inked a new multi-year partnership with biotech firm Vividion Therapeutics to leverage the latter’s proteomics and chemistry platforms in the identification and development of small molecules as a treatment in oncological, inflammatory and neurodegenerative conditions, it has emerged.
Specifically, Celgene will pay Vividion £101 million in upfront payments, including equity investment, to “advance new small molecules that function through the ubiquitin proteasome system, modulating specific protein levels for therapeutic benefit.” The partnership covers a first term of four years, during which Vividion will lead initial drug discovery efforts while Celgene will have exclusive worldwide rights on the first resulting project, as well as certain later ones.
Under the terms of the agreement, Vividion are potentially eligible to receive double-digit royalties on sales and milestone payments.
“Vividion has assembled a truly cutting-edge drug discovery platform that offers the opportunity to accelerate drug delivery in new and impactful ways by expanding the druggable proteome and addressing difficult targets,” said Rupert Vessey, President, Research and Early Development, at Celgene. “This collaboration will provide both companies with the opportunity for a comprehensive, accelerated drug discovery approach to develop first-in-class therapeutics in areas with high potential impact for patients.”
Diego Miralles, CEO of Vividion, added: “We are extremely pleased to collaborate with a leading medical innovator, Celgene. Our unique drug discovery capabilities provide new, expanded therapeutic possibilities. We believe we can transform and accelerate the way small molecules are discovered, as our proprietary screening technology rapidly identifies and advances chemistry for targets that until now have remained undruggable.”
Matt Fellows
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