Monday, November 19, 2012
Although it has eschewed creating a corporate venture arm, Celgene
Corp. has been an active investor in private biotechs for at least the
last five years, tapping a network of scientists and VCs to identify companies
and academics working in the big biotech's areas of interest. But last month's
investment in cancer and fibrotic disease company PharmAria
LLC was the first time Celgene has seeded a company.
The funds will allow PharmAria
to begin identifying clinical candidates against undisclosed targets. Celgene
received an option to license undisclosed R&D programs and an option,
triggered by an undisclosed event, to acquire the company.