GlobeImmune extends GI-4000 option

GlobeImmune Inc. (Louisville, Colo.) extended the option period for Celgene Corp. (NASDAQ:CELG) to license pancreatic cancer product GI-4000, according to an updated S-1 registration statement GlobeImmune filed last week. Celgene will now have until after GlobeImmune delivers data from the Phase II portion of a planned Phase II/III trial, which is slated to begin next year. Celgene said the previous option period would have expired after a review of final data from the ongoing Phase IIb trial of GI-4000 to treat pancreatic cancer. In exchange, Celgene agreed to increase the amount of royalties for which GlobeImmune is eligible and agreed to purchase $4.9 million of GlobeImmune shares by March 31, 2013. GlobeImmune said Celgene has expressed interest in purchasing the shares during GlobeImmune's planned IPO. GlobeImmune is planning to raise up to $69 million in the offering underwritten by Wells Fargo; Piper Jaffray; JMP Securities; Needham and MLV. Celgene was up $1.70 to $70.81 on Monday. ...