Celgene, Agios form new oncology deal, revise another
Celgene Corp. (NASDAQ:CELG) and Agios Pharmaceuticals Inc. (NASDAQ:AGIO) formed a new research collaboration to explore metabolic immuno-oncology. The companies also amended their 2010 cancer metabolism deal, returning to Agios worldwide rights to mutated isocitrate dehydrogenase 1 (IDH1) inhibitor AG-120.
Agios received $200 million up front in the new deal, in which the companies plan to investigate ways to modulate pathways that affect the metabolic state of immune cells. Celgene will have the option to license each program through Phase I dose escalation for a fee of at least $30 million per program. If it does so, the companies will share costs and profits equally, and Agios would be eligible for $169 million in milestones per program. ...