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ARTICLE | Company News

AADi, Celgene deal

May 26, 2014 7:00 AM UTC

Celgene granted AADi 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. ...