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GlobeImmune and Celgene announce $500 million oncology deal
June 2009
SHARING OPTIONS:

LOUISVILLE, Colo.GlobeImmune Inc. and Celgene Corp. announced in May a worldwide, strategic collaboration focused on the discovery, development and commercialization of multiple product candidates based on powerful, targeted molecular immunotherapy for the treatment of cancer. Under the terms of the agreement, GlobeImmune will receive a $40 million upfront payment from Celgene, which includes an equity investment in GlobeImmune. In return, GlobeImmune is granting Celgene an exclusive option to all oncology programs, including GI-4000, a Tarmogen technology-based product currently in Phase II pancreatic cancer studies as well as all of GlobeImmune's other oncology product candidates on a program-by-program basis. GlobeImmune will conduct the early development of the product candidates through certain pre-defined endpoints. Celgene will have the option to obtain an exclusive worldwide license to develop and commercialize these unique immunotherapy product candidates. GlobeImmune is eligible to receive more than $500 million in development and regulatory milestones, double-digit royalties and additional milestone payments based on net sales of the licensed product candidates.

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