Celgene has announced immuno-oncology partnerships with Kyn Therapeutics and Obsidian Therapeutics just weeks after being bought by Bristol-Myers Squibb for $74bn. Fresh on the heels of the first major biopharma acquisition deal of the year, Celgene has entered two partnerships with companies involved in immuno-oncology. The two companies are working together to develop a new drug that targets the protein called CD19, which is involved in many cancers. It will also pay Obsidian an undisclosed amount together with an equity investment entitling it to future milestone payments and royalties. The partnerships mean Celgene could gain the rights to cell therapy product candidates containing CD40L to help treat cancer.
Celgene has announced immuno-oncology partnerships with Kyn Therapeutics and Obsidian Therapeutics just weeks after being bought by Bristol-Myers Squibb for $74bn. The two companies are working together to develop a new drug that targets the protein called CD19, which is involved in many cancers. It will also pay Obsidian an undisclosed amount together with an equity investment entitling it to future milestone payments and royalties. The partnerships mean Celgene could gain the rights to cell therapy product candidates containing CD40L to help treat cancer.