Celgene drops option on OncoMed's navicixizumab.
M2 PHARMA-September 20, 2018-Celgene drops option on OncoMed's navicixizumab
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Celgene Corp (NASDAQ:CELG) has decided not to exercise its option to license the bispecific antibody navicixizumab (anti-DLL4/VEGF bispecific, OMP-305B83) from OncoMed Pharmaceuticals Inc (NASDAQ: OMED), OncoMed revealed on Thursday.
The decision was said to be based on strategic product portfolio considerations.
Celgene still retains its options to license OncoMed's etigilimab (anti-TIGIT monoclonal antibody, OMP-313M32) and rosmantuzumab (anti-RSPO3, OMP-131R10).
OncoMed is currently conducting a Phase 1b clinical trial of navicixizumab in combination with paclitaxel in patients with platinum-resistant late-stage ovarian cancer. Interim data will be presented at next month's European Society of Medical Oncology meeting in Munich.
"With the global development and commercialisation of navicixizumab remaining under our control, we are evaluating potential opportunities for the program and will continue to assess the data as it evolves for navicixizumab in combination with paclitaxel in heavily pretreated platinum-resistant ovarian cancer patients," said OncoMed's president and CEO, Dr John Lewicki.
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|Date:||Sep 20, 2018|
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