BioCentury
ARTICLE | Company News

Celgene, Forma Therapeutics deal

April 7, 2014 7:00 AM UTC

Celgene and Forma partnered to discover and develop compounds targeting undisclosed protein families across a range of therapeutic areas. Celgene paid Forma $225 million in cash up front for the initial 3.5-year deal. Celgene will have an exclusive option to license global development and ex-U.S. commercialization rights to existing or future Forma programs after Phase I testing. Celgene said "anything that isn't otherwise partnered is a potential option" for licensing. Forma is eligible for undisclosed milestones for each licensed compound.

Celgene also has two options to add additional two-year deals. Forma is eligible for an additional $375 million up front if Celgene exercises those options. If Celgene exercises the second of the two deal options, the company also will gain an exclusive option to acquire Forma. The option has no predetermined price or caps. ...