Celgene gains rights to Nogra product in potential $1 billion-plus deal
US biotech firm Celgene (Nasdaq: CELG) has entered a global license agreement with privately-held Irish company Nogra Pharma to develop and commercialize GED-0301, an oral antisense DNA oligonucleotide targeting Smad7 mRNA for the treatment of moderate-to-severe Crohn’s disease and other indications.
Under the terms of the deal, Nogra will receive an upfront payment of $710 million, regulatory, development and net sales milestone payments and tiered royalties. Aggregate payments for regulatory and development milestones could potentially be $815 million for multiple indications. Starting from global annual net sales levels of $500 million, aggregate tiered sales milestones could total a maximum of $1.05 million if annual net sales reach $4.0 billion.
Ph II trial completed
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