Expands pipeline of potential next-generation medicines for the
treatment of patients with autoimmune disorders
SUMMIT, N.J. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Celgene Corporation (NASDAQ: CELG) and Delinia, Inc. ("Delinia"), a
privately held biotechnology company developing novel therapeutics for
autoimmune diseases, today announced that they have entered into an
agreement for the acquisition of Delinia by Celgene.
The transaction expands Celgene's Inflammation and Immunology pipeline
through the acquisition of Delinia's lead program, DEL106, as well as
related second generation programs. 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.
"Delinia is at the forefront of advancing new approaches to treating
patients with severe and debilitating autoimmune diseases," said Rupert
Vessey, FRCP DPhil, President of Research and Early Development for
Celgene Corporation. "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
Under the terms of the agreement, Celgene will make an initial payment
of $300 million. Delinia shareholders will be eligible to receive up to
an additional $475 million in contingent payments upon achievement of
certain development, regulatory and commercial milestones. The
transaction is anticipated to close in the first quarter of 2017.
Celgene Corporation, headquartered in Summit, New Jersey, is an
integrated global pharmaceutical company engaged primarily in the
discovery, development and commercialization 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. For more information,
please visit www.celgene.com.
Follow Celgene on Social Media: @Celgene,
About Delinia, Inc.
Delinia is a biotechnology company developing novel therapeutics for the
treatment of autoimmune diseases. Delinia's lead program DEL106 is an
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. Tregs
are critically important immune regulatory cells in the pathophysiology
of cancer and autoimmune disease. Delinia was co-seeded and financed by
Atlas Venture and Sofinnova Partners.
This press release contains forward-looking statements, which are
generally statements that are not historical facts. Forward-looking
statements can be identified by the words "expects," "anticipates,"
"believes," "intends," "estimates," "plans," "will," "outlook" and
similar expressions. Forward-looking statements are based on
management's current plans, estimates, assumptions and projections, and
speak only as of the date they are made. Celgene undertakes no
obligation to update any forward-looking statement in light of new
information or future events, except as otherwise required by law.
Forward-looking statements involve inherent risks and uncertainties,
most of which are difficult to predict and are generally beyond
Celgene's control. Actual results or outcomes may differ materially from
those implied by the forward-looking statements as a result of the
impact of a number of factors, many of which are discussed in more
detail in Celgene's Annual Report on Form 10-K and other reports filed
with the Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170126005489/en/
Source: Celgene Corporation
News Provided by Acquire Media