Celgene acquires rights to potential glioblastoma treatment

US biotech firm Celgene (Nasdaq: CELG), through an affiliate, has acquired assets related to the proteasome inhibitor, which is in development for glioblastoma and relapsed and/or refractory multiple myeloma by privately-held Canadian firm Triphase Accelerator.

Under the terms of the agreement, Celgene gets rights to marizomib and will make an upfront payment plus additional regulatory, approval and sales milestone payments. Specific financial terms were not disclosed.

“This acquisition validates the potential of marizomib based on early clinical results. Our vision is to become a leading early-stage oncology drug development company, and this first opt-in by Celgene brings us a step closer to achieving that goal,” said Mohit Trikha, chief scientific officer, Triphase Accelerator, adding: “Just as importantly, this transaction affords us the opportunity to accelerate our efforts on advancing other assets in our pipeline.”