OncoMed soars on demcizumab deal with Celgene

|About: OncoMed Pharmaceuticals, Inc (OMED)|By:, SA News Editor

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.