VentiRx collaborates with Celgene on cancer drug candidate; pomalidomide update

VentiRx Pharmaceuticals, a privately held US biopharmaceutical company dedicated to the development of novel Toll-like receptor 8 (TLR8) agonists and antagonists, has entered a collaboration with biotech firm Celgene (Nasdaq CELG) for the development of VTX-2337, a highly potent and selective TLR8 agonist for the treatment of cancer.

As part of the strategic agreement, Celgene will retain the exclusive option to acquire VentiRx. For its part, Celgene will provide a $35 million upfront payment to fund further R&D of VTX-2337 through pre-defined clinical endpoints. During the option period, VentiRx will be eligible to receive additional funding, including a potential equity investment by Celgene.

"We are excited to have the support of Celgene to advance our development efforts and optimize the potential of VTX-2337 as a novel immunotherapy that augments current treatment regimens," said Robert Hershberg, chief executive of VentiRx, adding: "We have made significant progress to date in preclinical and clinical studies, and this collaboration reflects both the promise of VTX-2337 and the commitment by Celgene to pursue innovation in cancer therapeutics."