PharmAkea, Celgene and Bay City Capital collaborate on cancer and fibrotic disease

9 October 2013

Privately-held USA firm PharmAkea Therapeutics and Bay City Capital have entered a strategic collaboration with US biotech company Celgene (Nasdaq: CELG) designed to leverage PharmAkea’s proprietary drug discovery platform to generate and advance novel small-molecule therapies targeting cancer and fibrotic diseases.

Under terms of the deal, Celgene Corporation will commit $35 million to PharmAkea during an initial three-year alliance term, with an option to extend the collaboration with additional funding. Bay City Capital has invested $10 million in a Series A equity financing.

Celgene gets option to acquire PharmAkea

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