Forma adds $195M cash after Celgene extends collaboration

Forma Therapeutics Inc. (Watertown, Mass.) pocketed $195 million in cash up front after Celgene Corp. (NASDAQ:CELG) exercised a 2014 option to enter a second deal to discover and develop additional compounds targeting undisclosed protein families in the areas of protein homeostasis, inflammation, immunology and neurodegeneration.

In 2014, Celgene paid Forma $225 million cash up front to discover and develop compounds targeting undisclosed protein families across a range of therapeutic areas, and gained options to add two additional deals. If Celgene decides to add the third deal, it will gain an exclusive option to acquire Forma at a price to be determined later. ...