Celgene Gains Buyout Option with VentiRx Cancer Collaboration

Abstract

Celgene has formed a global collaboration with the virtual company VentiRx Pharmaceuticals to fund Phase II trials of VentiRx’s TLR8 (Toll-like receptor 8) agonist VTX-2337 in ovarian and head-and-neck cancers. Celgene will provide US$35 M upfront for further development of the drug through predefined clinical endpoints and in return retains an exclusive option to acquire VentiRx at a predetermined price. VentiRx is also eligible to receive additional funding during the option period, including a potential equity investment by Celgene. VentiRx in-licensed Array BioPharma’s TLR8 programme in 2007.