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Celgene to Acquire Autoimmune Disorder Specialist Delinia.

MANews-(C)2009-2017

27 January 2017 - US-based pharmaceutical company Celgene Corp. (NASDAQ: CELG) has agreed to acquire biotechnology company Delinia, Inc, the company said.

The transaction expands Celgene's Inflammation and Immunology pipeline through the acquisition of Delinia's lead programme, DEL106, as well as related second generation programmes.

DEL106 is a novel IL-2 mutein Fc fusion protein designed to preferentially upregulate regulatory T cells (Tregs), immune cells that are critical to maintaining natural self-tolerance and immune system homeostasis.

Augmenting Tregs as a means of restoring immune system balance has the potential to benefit patients with a variety of autoimmune diseases such as systemic lupus erythematosus and rheumatoid arthritis.

Under the terms of the agreement, Celgene will make an initial payment of USD 300m.

Delinia shareholders will be eligible to receive up to an additional USD 475m in contingent payments upon achievement of certain development, regulatory and commercial milestones. The transaction is anticipated to close in 1Q17.

Celgene headquartered in Summit, New Jersey, is an integrated global pharmaceutical company engaged primarily in the discovery, development and commercialisation of innovative therapies for the treatment of cancer and inflammatory diseases through next-generation solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

Delinia is a biotechnology company developing novel therapeutics for the treatment of autoimmune diseases.

Country: USA

Sector: Biotechnology

Target: Delinia, Inc

Buyer: Celgene Corp

Vendor:

Deal size in USD: 300m

Type: Corporate Acquisition

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Jan 27, 2017
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