Dragonfly and Celgene enter into a five-year strategic collaboration. Celgene to receive exclusive options to license Dragonfly's product candidates focused on high-value targets in hematological malignancies in return for an upfront fee, and potential future milestone payments and royalties
CAMBRIDGE, Mass., June 12, 2017 /CNW/ -- Dragonfly Therapeutics, Inc. ("Dragonfly"), today announced a global strategic collaboration with Celgene Corporation and its affiliates ("Celgene") to discover, develop and commercialize innovative immuno-oncology treatment options for patients with hematological malignancies based on Dragonfly's Natural Killer ("NK") cell based TriNKET™ technology platform.
The collaboration allows Celgene the exclusive option to in-license worldwide rights for up to four therapeutic candidates with potential utility in the treatment of acute myeloid leukemia, multiple myeloma, and additional hematological malignancies. The collaboration includes a $33 million upfront payment, and potential future milestone and royalty payments.
"NK-cell biology and immunotherapy are increasingly critical areas of hematologic research and we are looking forward to working with Dragonfly's team of world-leading experts," said Rupert Vessey, FRCP DPhil, President of Research and Early Development for Celgene Corporation. "This collaboration will leverage the strengths of each company as we work together to bring innovative therapies to patients."
"Through execution of this strategic alliance with Celgene, Dragonfly is well positioned to accelerate our efforts to bring potential new immuno-oncology treatment options to patients with hematological malignancies," said Bill Haney, co-founder and CEO of Dragonfly Therapeutics. "Celgene is a preeminent biopharmaceutical company with a demonstrated history of recognizing disruptive science that may lead to new treatment options for patients with cancer. We look forward to a successful collaboration."
Dragonfly Therapeutics is committed to discovering, developing and commercializing therapies that use its novel TriNKET™ technology to harness the body's innate immune system to bring breakthrough cancer treatments to patients.
SOURCE Dragonfly Therapeutics, Inc.