Celgene pays $80 million to buy into novel cancer tech

18 January 2019

Boston, USA-based Kyn Therapeutics has entered into a global strategic collaboration with Celgene (Nasdaq: CELG), aimed at developing novel immuno-oncology therapies.

Kyn is a clinical-stage biotechnology company researching novel immunometabolic therapies for cancer. The firm will receive an upfront payment of $80 million and an equity investment.

Celgene will gain exclusive options to license Kyn’s aryl hydrocarbon receptor (AHR) antagonist program and its kynurenine-degrading enzyme (Kynase) program.

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