Date: 2014-10-28
Type of information: Establishment of a new subsidiary in the EU
Compound: bispecific antibody
Company: Triphase Accelerator (Canada - USA - CA) Celgene (USA - NJ)
Therapeutic area:
Type agreement:
Action mechanism: bispecific antibody
Disease:
Details: * On October 28, 2014, Triphase Accelerator announced a new strategic collaboration with Celgene Corporation. The new agreement
provides Celgene with the option to acquire a novel bispecific antibody that Triphase licensed from PharmAbcine. The bi-specific antibody targets VEGFR-2/TIE 2 and is currently in preclinical studies.
Financial terms: Under the new agreement, Triphase received an upfront payment and will control product development and retain all commercial rights to the bi-specific antibody. If Celgene exercises its option to acquire the antibody from Triphase, Celgene will become responsible for product development and retain commercial rights, and Triphase will be eligible to receive regulatory and sales milestone payments if Celgene exercises its option to acquire the antibody.
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