Oct. 23, 2014, 4:12 PM
- Celgene (CELG +5.9%) likes its partnership with privately-held Sutro Biopharma so much that is has inked another deal with the antibody-based therapeutics developer. Under the terms of the agreement, Sutro receives a upfront payment of $95M that includes an equity stake, $90M during the research phase and potentially more than $1B, including milestones.
- Celgene also has an option to buy Sutro under undisclosed terms.
- The partners will work on PD-1 and PD-L1 inhibitors, the most promising cancer immunotherapy area. Sutro's value proposition is a better way to build antibody-drug conjugates that are more selective in their binding targets. Its technology enables a simpler method of making biologics, more akin to small molecule drugs.
Apr. 24, 2014, 8:43 AM
- Celgene (CELG) has licensed a treatment codenamed GED-0301 for moderate-to-severe Crohns disease and other indications from Dublin-based Nogra Pharma.
- Celgene will pay $710M upfront, development and regulatory milestones of as much as $815M, and sales milestones of up to $1.05B.
- GED-0301 "demonstrated striking clinical activity in a phase II trial for Crohns disease," Celgene says, with the company planning to start a Phase III study by the year-end.
- Shares are -2.1%. (PR).
- Q1 earnings
Oct. 16, 2013, 10:50 AM
Jul. 29, 2013, 11:11 AM
- Celgene (CELG -0.7%) enters into a strategic collaboration and will make a $100M upfront cash payment for an exclusive option giving it the right to buy Acetylon Pharmaceuticals - a developer of small molecule drugs that target epigenetic mechanisms for the treatment of cancer and other critical human diseases.
- Acetylon will retain control of its drug development program during the option period.
- If Celgene exercises its option, an upfront payment with a minimum floor of $500M, will be paid at closing.
- Additionally, Acetylon shareholders will be eligible to receive potential future milestone payments totaling up to $1.1B depending upon certain targets.
Jul. 1, 2013, 8:16 AMOnyx (ONXX) shares rocket 51% to $130.98 after the company says that it's rejected a $120/share offer from Amgen (AMGN +0.6%) and that it's seeking buyers after receiving inquiries. There's no shortage of speculation about who could acquire Onyx, with Bayer (BAYZF.PK), Celgene (CELG), Novartis (NVS), Bristol-Myers (BMY), AstraZeneca (AZN), Eli Lilly (LLY), Gilead (GILD) and Pfizer (PFE) all mentioned. However, Forbes' Matthew Herper notes that potential blockbuster blood-cancer drug Kyprolis has only received accelerated FDA approval, which can be revoked. Big Pharma may have wanted to await further trial results later this year amid concerns about Kyprolis' safety. | 2 Comments
Jul. 8, 2012, 3:00 AMCelgene (CELG) is one of two firms other than GSK that are considering buying Human Genome (HGSI) and are holding talks with the company, Reuters reports. There's no word on who the second suitor is, although any deal would most likely be a merger of equals. With Human Genome holding an auction, the deadline for bids is July 16. | 1 Comment
Jan. 26, 2012, 2:34 PM
Jan. 26, 2012, 7:28 AMCelgene (CELG) to acquire privately-held biotech firm Avila Therapeutics for $350M in cash, plus up to $190M for milestones related to AVL-292, as well as up to $380M in potential milestone payments contingent upon the development and approval of candidates generated from the Avilomics platform. (PR) | Comment!
Jan. 6, 2012, 10:25 AMLagging biotechs Amgen (AMGN -0.2%) and Celgene (CELG -2%) may dive into deal-making this year in seeking to return to the industry’s high-growth roots, Bloomberg speculates. Investors in the space have rewarded strategic acquisitions and companies that continue to develop innovative therapies, rather than dividend-paying low-growth stocks. | Comment!
CELG vs. ETF Alternatives
Other News & PR