Celgene snatches another Agios asset
Celgene Corp. (NASDAQ:CELG) exercised an option to license exclusive ex-U.S. rights to AG-120 from Agios Pharmaceuticals Inc. (NASDAQ:AGIO). The inhibitor of mutated isocitrate dehydrogenase 1 (IDH1) is in Phase I studies to treat advanced hematologic malignancies and advanced solid tumors in patients with an IDH1 mutation. Celgene, which had the option to license the rights at the end of Phase I testing under a 2010 deal, exercised the option early. The option fee is undisclosed, and Agios is eligible for up to $120 million in milestones.
In November, Agios reported a 50% objective response rate in a Phase I trial in patients with relapsed and/or refractory acute myelogenous leukemia (AML) with an IDH1 mutation and announced plans to start multiple expansion cohorts of the trial this quarter. Agios plans to report data from the Phase I trial to treat advanced solid tumors at a medical conference this year. ...