Triphase signs cancer pacts with Celgene, PharmAbcine

As part of a three-way deal, Triphase Accelerator Corp. (San Diego, Calif.) in-licensed global rights excluding China and Korea to preclinical oncology candidate TRPH 011 from PharmAbcine Inc. (Daejon, South Korea). Concurrently, Celgene Corp. (NASDAQ:CELG) purchased an option to acquire TRPH 011 from Triphase.

PharmAbcine will receive an undisclosed upfront payment from Triphase and is eligible for milestones and royalties. Triphase and PharmAbcine said TRPH 011, a human bi-specific antibody targeting the VEGFR-2/KDR and TIE 2 receptors, has shown efficacy in preclinical models of glioblastoma multiforme (GBM) and pancreatic cancer. ...