Celgene Corporation has formed an exclusive global collaboration with Lycera, a privately held biopharmaceutical company developing breakthrough immune modulatory medicines.
The partnership will enable Celgene to take forward Lycera’s proprietary pipeline for cancer and immune-mediated diseases.
Celgene will make an $82.5 million upfront cash payment with includes an exclusive option for Celgene to license Lycera’s portfolio of ex vivo RORgamma agonist compounds. Lycera has the potential to receive near term payments of an additional $22.5 million associated with the ex vivo licensing option rights.
As part of the agreement, Celgene obtains the exclusive right to acquire Lycera upon conclusion of the option period or achievement by Lycera of pre-specified milestones.
Read the company press release