bluebird, Celgene in immunotherapy cancer deal
bluebird bio Inc. (Cambridge, Mass.) partnered with Celgene Corp. (NASDAQ:CELG) to discover, develop and commercialize chimeric antigen receptor (CAR) immunotherapies for cancer. CAR-based immunotherapies are autologous T cells that are genetically modified ex vivo to express a CAR that recognizes cancer cells. The T cells are then reintroduced into the patient. The partners will also work with the Center for Cell and Gene Therapy at Baylor College of Medicine to develop new and existing CAR immunotherapy products and programs.
bluebird bio, which is developing gene therapy programs that use lentiviral vectors for non-cancer indications, will be responsible for R&D through Phase I testing, after which Celgene has the option to license any products. bluebird bio will receive an undisclosed upfront payment and is eligible for up to $225 million in option fees and milestones per product, plus royalties. Cowen advised bluebird, which also has an option for 50/50 co-development and profit-sharing rights in the U.S. ...