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May 06, 2013
 |  BioCentury  |  Strategy

Forma into the fold

Why Celgene partnered with Forma to enter protein homeostasis space

Celgene Corp. has spent the last six years placing large bets on small biotechs doing breakthrough science and letting its partners take the wheel. Last week, the cancer and immunology company put its chips on Forma Therapeutics Holdings LLC and protein homeostasis.

Forma will receive an undisclosed upfront payment and is eligible for up to $200 million in R&D funding to evaluate protein homeostasis targets selected by the partners, discover small molecules against those targets and conduct preclinical and Phase I testing. The deal covers multiple disease areas, with an emphasis on cancer.

Celgene will have an exclusive option to license ex-U.S. rights to compounds after Phase I testing and would then be responsible for further development.

Forma, which retains exclusive U.S. rights, is eligible for up to $315 million in milestones for the first licensed compound and up to $430 million in milestones for each subsequently licensed compound, plus royalties for all licensed compounds.

"When Celgene identifies a new area of biology and a partner with an approach that they believe...

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