Celgene (CELG) has entered into an alliance worth up to €628M, excluding royalties, with...

|About: Celgene Corporation (CELG)|By:, SA News Editor

Celgene (CELG) has entered into an alliance worth up to €628M, excluding royalties, with Germany's MorphoSys (MPSYF.PK) to develop the latter's MOR202 drug, including for treating the blood cancer multiple myeloma. Celgene will pay €70.8M upfront, €46.2M for new shares in MorphoSys and milestones, while the companies will also share profits. Earlier this month, MorphoSys signed a major licensing deal with GlaxoSmithKline. (PR)