Celgene partners with Anokion, lifts 2017 guidance

Celgene Corp. (NASDAQ:CELG) and Anokion S.A. (Ecublens, Switzerland) partnered to use the Swiss biotech's immune tolerizing platform to develop therapies for autoimmune diseases. Celgene made an equity investment in Anokion and obtained an option to acquire the company.

Celgene paid Anokion $45 million up front and is eligible for $10 million in preclinical development milestones. Anokion CEO Jeff Hubbell told BioCentury the upfront payment includes the equity stake as well as non-dilutive cash. Celgene may opt to acquire Anokion at multiple times, based on undisclosed triggers. Hubbell declined to give a timeline for Anokion's programs, but said they are moving toward clinical studies...