Pharmacopeia’s partner Celgene starts Phase I study of anti-inflammatory drug

Celgene is solely responsible for the funding and management of development and commercialization of this inflammatory disease candidate. Pharmacopeia currently receives an annual license fee from Celgene for this program and is eligible to receive milestone payments if the program advances further in clinical trials. Pharmacopeia will also receive royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.

Les Browne, president and CEO of Pharmacopeia, said: “This milestone expands our clinical development stage pipeline to eight programs, of which we are developing two internally.”