Celgene acquires autoimmune biotech for $300m.
Celgene Corp. has entered an agreement to acquire Delinia, Inc., a privately held biotechnology company developing therapeutics for autoimmune diseases, for $300 million upfront, and as much as an additional $475 million based on development, regulatory and commercial milestones. The transaction is expected to close 1Q17.
Celgene expands its inflammation and immunology pipeline with Delinia's lead program, DEL106, as well as related second generation programs. DEL106 is an IL-2 mutein Fc fusion protein designed to upregulate regulatory T cells (Tregs), which are critical to maintaining immune system balance. Augmenting Tregs as a means of restoring immune system has the potential to benefit patients with a variety of autoimmune diseases such as systemic lupus erythematosus and rheumatoid arthritis.
"Delinia is at the forefront of advancing new approaches to treating patients with severe and debilitating autoimmune diseases," said Rupert Vessey, president of Research and Early Development for Celgene Corp. "We look forward to progressing DEL106 into the clinic next year."
"We are delighted to enter into this transaction with Celgene," said Saurabh Saha, M.D., Ph.D., chief executive officer at Delinia. "Their expanding Inflammation and Immunology franchise and strong commitment to scientific innovation makes them an ideal company to continue to move DEL106 forward."
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|Title Annotation:||INDUSTRY NEWS|
|Date:||Mar 1, 2017|
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