Celgene and Prothena forge multi-billion-dollar partnership

21 March 2018
2019_biotech_test_vial_discovery_big

The share price of Irish biotech firm Prothena (Nasdaq: PRTA) has spiked over 10% on news that the company has finalized a major partnership with industry giant Celgene (Nasdaq: CELG).

The deal, which is worth up to $2 billion to the Dublin-headquartered company, is focused on three proteins: tau, TDP-43 and another, undisclosed target, each of which is implicated in the pathogenesis of neurodegenerative diseases such as Alzheimer's.

Prothena will receive $150 million upfront, and US Securities and Exchange Commission (SEC) documents indicate that they will eligible for up to a further $562 million per program. Of the initial $150 million, $50 million will include a mass purchase of Prothena shares – 1.2 million in total at $42.57 per share.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology