Celgene has entered into a global strategic collaboration with Kyn Therapeutics, a Boston-based clinical-stage biotech, to develop immuno-oncology therapies.
Celgene's $80 million upfront payment will give the drugmaker exclusive options to two Kyn therapeutic programs — an aryl hydrocarbon receptor (AHR) antagonist program and its kynurenine-degrading enzyme (“Kynase”) program.
For each program, Kyn is responsible for R&D activities through Phase 1b, at which time Celgene can opt in to lead and fund global development and commercialization of the licensed programs. If successful, Kyn is eligible for substantial clinical, regulatory and commercial milestone payments.
This is the first announced deal for Celgene following the proposed $74 billion sale to Bristol-Myers Squibb at the start of the year.
Read the press release