Celgene, Forma in protein homeostasis deal
Celgene Corp. (NASDAQ:CELG) partnered with Forma Therapeutics Holdings LLC (Watertown, Mass.) to discover, develop and commercialize compounds that regulate protein homeostasis for multiple disease areas with an emphasis on cancer. Forma will receive an undisclosed upfront payment from Celgene and is eligible for up to $200 million in R&D payments to evaluate targets selected by the partners and to conduct preclinical and Phase I testing. Celgene will have an exclusive option to license ex-U.S. rights to compounds after Phase I testing and is responsible for further development of each licensed compound. Forma 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.
Forma uses computational chemistry, medicinal chemistry, synthesis, x-ray crystallography and biology to identify and interrogate cancer targets in areas including tumor metabolism, protein-protein interactions and epigenetics (see BioCentury, Jan. 23, 2012). ...