Date: 2017-01-26
Type of information: Company acquisition
Acquired company: Delinia (USA - MA)
Acquiring company: Celgene (USA - NJ)
Amount: up to $ 775 million
Terms: * On January 26, 2017, Celgene and Delinia announced that they have entered into an agreement for the acquisition of Delinia by Celgene. 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. Delinia was co-seeded and financed by Atlas Venture and Sofinnova Partners . The transaction is anticipated to close in the first quarter of 2017.
Details: Delinia is 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. 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. 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.
Related: Autoimmune diseases
