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ARTICLE | Company News

Celgene licenses nab-rapamycin to AADi

May 21, 2014 12:43 AM UTC

Celgene Corp. (NASDAQ:CELG) granted AADi LLC (Pacific Palisades, Calif.) an exclusive, worldwide license to develop and commercialize Celgene's ABI-009, a nanoparticle albumin-bound (nab) formulation of rapamycin, also known as sirolimus. Financial terms are not disclosed. AADi founder, President and CEO Neil Desai also is VP of strategic programs at Celgene and an inventor of the company's nab technology. ABI-009 is in a Phase I/II trial to treat non-muscle invasive bladder cancer. The trial, which is being funded in part by an NIH grant, is slated to complete in about 18 months.

AADi also plans to start trials of ABI-009 to treat peripheral artery disease (PAD) next half and pulmonary arterial hypertension (PAH) in 2015. Celgene has the option to reacquire ABI-009 at undisclosed stages of development for undisclosed terms. Rapamycin is an inhibitor of mammalian target of rapamycin ( mTOR; FRAP; RAFT1). ...