ARTICLE | Company News

Celgene, NantBioscience in cancer deal

January 15, 2014 2:03 AM UTC

Celgene Corp. (NASDAQ:CELG) partnered with the NantBioscience subsidiary of Patrick Soon-Shiong's NantWorks LLC (Los Angeles, Calif.) to develop a pipeline of cancer drugs using the nanoparticle albumin-bound (nab) technology Celgene gained in its acquisition of Soon-Shiong's former company, Abraxis Bioscience Inc. The deal includes rights to two preclinical compounds-- NTB-011, a nab formulation of a colchicine dimer and NTB-010, a nab formulation of the geldanomycin analogue 17-AAG. NantBioscience plans to start Phase I trials of both by 2015. NantBioscience will receive $75 million from Celgene in an upfront option fee and equity investment. Celgene has an option to license back NTB-011 and NTB-010 through completion of Phase I testing. ...