Celgene partners with FORMA Thera on drugs targeting protein homeostasis

Privately-held FORMA Therapeutics has entered into a strategic collaboration agreement with US biotech firm Celgene (Nasdaq: CELG) Corporation under which the companies will discover, develop and commercialize drug candidates to regulate protein homeostasis targets.

Protein homeostasis, which is important in oncology, neurodegenerative and other disorders, involves a tightly regulated network of pathways controlling the biogenesis, folding, transport and degradation of proteins.

The collaboration between FORMA and Celgene will be launched with an undisclosed up-front payment that will enable Celgene to evaluate selected targets and lead assets in protein homeostasis pathways during the preclinical phase. Based on such evaluation, Celgene will have the right to obtain exclusive licenses with respect to the development and commercialization of multiple drug candidates outside of the USA, in exchange for research and early development payments of up to $200 million to FORMA.