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Print Edition StoriesThursday, April 15, 2010
Agios to land $130M pay from Celgene partnership
By Mass High Tech staff
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Agios Pharmaceuticals Inc., of Cambridge, and Celgene Corp., of Summit, N.J., have formed a cancer metabolism-focused collaboration that will bring a $130 million upfront payment, including equity, to Agios.
The partnership is intended to produce more cancer treatments based on Agios’ cancer metabolic research, which focuses on the concept of “starving” cancer by targeting specific metabolic enzymes.
While Celgene will pay Agios the $130 million payment, the New Jersey biopharmaceutical firm will receive in return an exclusivity period for it to develop new drugs based on Agios’ cancer metabolism platform. The period of exclusivity may continue longer, provided Celgene pays Agios another milestone payment of up to $120 million.
Agios Pharmaceuticals was founded by cell metabolism leaders Lewis C. Cantley, director of the Cancer Center at Beth Israel Deaconess Medical Center and professor of systems biology at Harvard Medical School; Tak W. Mak, of The Campbell Family Institute for Cancer Research and The University of Toronto; and Craig B. Thompson, director of the Abramson Cancer Center, University of Pennsylvania.
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