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news.Agios Pharmaceuticals and Celgene have announced the extension of the initial period of exclusivity of the companies’ April 2010 cancer metabolism collaboration agreement from three to four years.
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As per the new deal, Agios will receive a $20m payment and Celgene will have exclusive option to drug candidates generated by Agios’ cancer metabolism research platform during this period.
Celgene president of research Thomas Daniel said the company has made progress in the first 18 months of collaboration through unique research capabilities of Agios.
"As this early extension decision demonstrates, we are enthusiastic about the potential of Agios’ industry-leading approach targeting cancer metabolism to drive the development of multiple innovative, first-in-class cancer therapies," Daniel added.
According to the original agreement signed in April 2010, Agios received a $130 million upfront payment, including an equity investment.