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Celgene fronts $710M for Crohn's compound

April 25, 2014 12:28 AM UTC

Nogra Pharma Ltd. (Dublin, Ireland) granted Celgene Corp. (NASDAQ:CELG) exclusive, worldwide rights to develop and commercialize GED-0301 to treat moderate to severe Crohn's disease and other gastrointestinal indications. Nogra (formerly Giuliani S.p.A.) will receive $710 million up front and is eligible for up to $1.9 billion in milestones, plus tiered single-digit royalties. GED-0301, an oral antisense oligonucleotide targeting SMAD family member 7 ( MADH7; SMAD7), has completed a Phase II trial for active Crohn's. Celgene plans to start a Phase III program by year end. ...