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OncoMed soars on demcizumab deal with Celgene

  • OncoMed Pharmaceuticals (OMED) announces a development and commercialization agreement with Celgene (CELG).
  • The deal includes demcizumab and "up to six anti-cancer stem cell product candidates."
  • OMED gets $177.25M upfront ($22.25M equity investment).
  • OMED also keeps "global co-development and U.S. co-commercialization rights for five of the six anti-CSC product candidates with 50/50 U.S. profit sharing, and royalties to be received in other territories."
  • CELG has an exclusive option on demcizumab subsequent to which OMED will "co-develop [the drug and] share global development costs on a 1/3 OMED and 2/3 CELG basis." (PR)
  • OMED +60% premarket.
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