Date: 2016-11-18
Type of information: Collaboration agreement
Compound:
Company: Celgene (USA - NJ) PharmAkea (USA - CA)
Therapeutic area: Cancer - Oncology - Fibrotic diseases
Type agreement: collaboration
Action mechanism:
Disease:
Details:
- • On October 4, 2013, PharmAkea Therapeutics, and Bay City Capital announced a strategic collaboration with Celgene designed to leverage PharmAkea’s proprietary drug discovery platform to generate and advance novel small-molecule therapies targeting cancer and fibrotic diseases.
- PharmAkea was founded in 2012 with seed funding from Celgene, which was used to secure the initial scientific team, initiate operations and commence identification of clinical candidates against selected targets.
Financial terms:
- Under terms of the agreement, Celgene will commit $35 million to PharmAkea during an initial three-year alliance term, with an option to extend the collaboration with additional funding. Bay City Capital has invested $10 million in a Series A equity financing. In addition, Celgene will also take an equity stake in PharmAkea and will retain an exclusive option to acquire the company.
Latest news:
- • On November 18, 2016, PharmAkea Inc. announced the extension of their strategic collaboration with Celgene which was established to leverage PharmAkea's proprietary drug discovery platform and novel small-molecule therapies targeting fibrotic diseases.
- Under the terms of the agreement, Celgene Corporation committed $9 million to PharmAkea to extend the collaboration for 9 months.
- PharmAkea is currently conducting a Phase 1 SAD and MAD trial, as well as toxicology studies that will enable Phase 2 trials on its lead program, a small molecule LOXL2 inhibitor. The Company is also conducting IND-enabling studies in preparation for a Phase 1 trial on its second program, an Autotaxin inhibitor.
Is general: Yes
