BioCentury
ARTICLE | Company News

Celgene declines Acetylon option

August 8, 2016 7:00 AM UTC

Celgene Corp. (NASDAQ:CELG) revealed in a regulatory filing that it did not exercise its option to acquire Acetylon Pharmaceuticals Inc. (Boston, Mass.). Celgene allowed the option to expire in May. It paid $100 million up front to acquire the option in 2013 (see BioCentury Extra, July 29, 2013).

If Celgene had exercised the option, Acetylon shareholders would have received at least $500 million and been eligible for another $1.1 billion in milestones. Acetylon acknowledged that the option had expired and said the companies will continue to collaborate on clinical trials, but declined to comment further on the deal. ...