Celgene to invest over $100 million upfront in deal with Vividion Therapeutics

California’s Vividion Therapeutics has agreed a strategic research collaboration with US biotech major Celgene (Nasdaq: CELG), focused on identifying and developing unique small molecules against targets for a range of oncology, inflammatory and neurodegenerative indications.

The collaboration is intended to advance new small molecules that function through the ubiquitin proteasome system, modulating specific protein levels for therapeutic benefit.

Under the terms of the deal, Vividion will receive an upfront payment of $101 million, which includes an equity investment from Celgene.