NantBioScience enters cancer collaboration with Celgene

USA-based NantBioScience, a subsidiary of privately-held NantWorks, has entered into a strategic collaboration with biotech major Celgene (Nasdaq: CELG) to advance research programs to benefit cancer patients in need of new therapeutic solutions.

As part of the transaction, Celgene will pay $75 million in funding to NantBioScience as an upfront option fee and equity investment. Celgene will receive an option to license a certain number of product candidates developed by NantBioScience, including the two nab product candidates to be licensed to NantBioScience. The options may be exercised by Celgene through completion of Phase I clinical studies.

Building on the nab (nanoparticle albumin-bound) technology platform, NantBioScience will create a pipeline of nab-based molecules. As part of the collaboration, Celgene will license two nab product candidates to NantBioScience, both of which had previously received Investigational New Drug approval.