Celgene and Forma Enter Into New Multi-Year Collaboration

Celgene and Forma Therapeutics are expanding their strategic collaboration with a multi-year agreement that includes a buyout option.

The two drugmakers inked their first joint deal around protein homeostasis cancer targets a year ago. The new accord will explore the potential for Forma’s chemical matter-generating platforms to power discovery of “emerging target families” using Celgene’s R&D strengths.

“This new alliance enables Forma to maintain autonomy in defining our research strategy and discovery through early clinical development,” said President and CEO Steven Tregay. “It aligns our company with Celgene’s global leadership in hematology and immune-mediated inflammatory diseases.”

Under the deal, announced Tuesday, Forma will get a $225 million upfront cash payment. Over the next three and a half years, Celgene may license the rights to current and future Forma products in exchange for specific developmental and regulatory milestones that were not disclosed.

Following the completion of Phase I clinical trials, Celgene will assume global development and costs, while Forma will focus on manufacturing and sales.

The companies may extend the collaboration for two additional two-year periods. During the final period, Celgene will have the option of acquiring Forma and the U.S. rights to all of its programs.

Based in Watertown, Mass., Forma focuses on tumor metabolism, epigenetics, protein homeostasis and essential protein-protein interactions to treat cancer and other genetically driven diseases. Celgene makes drug- and cell-based therapies for cancer and inflammatory diseases. — Lena Freund

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