Signal deal leads Celgene into SERMs

Selective estrogen receptor modulators (SERMs) were all the rage a few years ago, with their promise of harnessing the benefits of estrogen modulation without the side effects of broad activity. The reality has been less dramatic, as neither of the two marketed SERMs is perfect. Celgene Corp., which signed a deal with Novartis AG last week, believes its functional genomics platform for discovering SERMs should yield better drug candidates.

Celgene (CELG, Warren, N.J.) and Novartis (NVS; SWX:NOVN, Basel, Switzerland) plan to develop SERMs to prevent or treat osteoporosis. Under the agreement, NOVN has worldwide exclusive rights, while CELG received an upfront payment and will be eligible for milestones and royalties...