Celgene is paying Forma Therapeutics $195 million upfront for the extended relationship, handing Celgene ex-US rights on drug candidates through October 1, 2019. Under the new deal, Celgene would be responsible for all ex-U.S. development costs and activities after the completion of Phase I testing. Forma would retain U.S. rights and be eligible for milestones.
Under the original 2014 deal, Celgene has an exclusive option to license global rights to resulting candidates after Phase I testing. To date, Celgene has gained exclusive licenses to two preclinical programs under the deal- an epigenetic compound for cancer and a non-alcoholic steatohepatitis (NASH) candidate.
In 2014, Celgene paid Forma $225 million cash up front to discover and develop compounds targeting undisclosed protein families across a range of therapeutic areas, and gained options to add two additional deals. If Celgene decides to add the third deal, it will gain an exclusive option to acquire Forma at a price to be determined later.
“Our continued collaboration with FORMA is based upon the quality of their drug candidates, their adaptability to enter new emerging areas of biology, and their leadership in fostering a collaborative culture at the forefront of innovation,” said Rupert Vessey, FRCP, DPhil, President of Research and
Early Development, Celgene Corporation.“FORMA has made significant advances by declaring multiple drug candidates with the potential for profound differentiation across a broad range of therapeutic areas, and to date has advanced several Celgene-partnered or wholly-owned by FORMA into the clinic,” said Steven Tregay, Ph.D., CEO and Founder, FORMA Therapeutics. “The continued expansion of our partnership provides FORMA with sustainability and autonomy to deliver on our research strategy, which aligns well with Celgene’s global strategic directives.”
John Hohneker, M.D., President, Research and Development, FORMA Therapeutics, added, “We are thrilled that Celgene values the innovative science that we are pursuing at FORMA. The continuation of our productive collaboration is a tribute to our team of talented scientists and clinicians who have and continue to bring forth potentially important new medicines for people with cancer and other serious diseases.”
