GlobeImmune Inc and Celgene Corporation announced a worldwide strategic collaboration focused on the discovery, development and commercialisation of multiple product candidates based on powerful, targeted molecular immunotherapy for the treatment of cancer.
Under the terms of the agreement, GlobeImmune will receive a $40 million upfront payment from Celgene, which includes an equity investment in GlobeImmune. In return, GlobeImmune is granting Celgene an exclusive option to all oncology programmes, including GI-4000, a Tarmogen technology-based product currently in phase-II pancreatic cancer studies as well as all of GlobeImmune's other oncology product candidates on a programme by programme basis. GlobeImmune will conduct the early development of the product candidates through certain pre-defined endpoints. Celgene will have the option to obtain an exclusive worldwide license to develop and commercialize these unique immunotherapy product candidates. GlobeImmune is eligible to receive over $500 million in development and regulatory milestones, double-digit royalties and additional milestone payments based on net sales of the licensed product candidates.
Tarmogen technology holds several advantages over current approaches in oncology as its adaptability to a range of proteins, including the protein encoded by the ras oncogene, creates a powerful immune response against disease specific cells that improves with each subsequent dose, is adaptable to a range of diseases and is easily scalable to commercial levels.
"The partnership with GlobeImmune supports our goal to identify and develop high-potential oncology therapies based on significant, innovative science," said Thomas Daniel, president of Research for Celgene. "The Tarmogen technology has the potential to address a number of highly-defined unmet medical needs. We are very pleased to be extending our relationship with GlobeImmune and entering this collaboration."
Tarmogen candidates are also being studied in phase-II clinical trials targeting hepatitis C.
"We are delighted to have Celgene as our worldwide oncology partner," said Timothy C Rodell, president and chief executive officer of GlobeImmune. "Celgene is a leader in the field of oncology, having demonstrated the ability to deliver innovative, disease-altering cancer treatment options to patients worldwide. This partnership provides significant validation for GlobeImmune's work to date on the Tarmogen platform."
Tarmogens are proprietary therapeutic product candidates designed to stimulate the immune system to recognize and eliminate diseased cells from the body.
GlobeImmune is a private company developing targeted molecular immunogens (Tarmogens) for the treatment of cancer and infectious diseases.
Celgene Corporation is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.