The company paid $232 per share in cash for Receptos, which is focused on developing therapeutic candidates to treat immune and metabolic diseases.
The acquisition of Receptos builds upon Celgene’s growing expertise in inflammatory bowel disease (IBD).
The deal adds Ozanimod, a new, oral, once-daily, selective sphingosine 1-phosphate 1 and 5 receptor modulator (S1P) to Celgene’s pipeline of potential disease-altering medicines and investigational compounds.
In earlier clinical trials, Ozanimod showed several areas of potential advantage over existing oral therapies to treat ulcerative colitis (UC) and relapsing multiple sclerosis (RMS), including its cardiac, hepatotoxicity and lymphocyte recovery profile.
The Phase III True North trial for the drug is currently underway with results scheduled to be reported in 2018, while the Phase III Radiance and Sunbeam RMS trials are ongoing with data expected in the first half of 2017 to support a RMS approval in 2018.
Celgene chairman and CEO Bob Hugin said: "The Receptos acquisition provides a transformational opportunity for Celgene to impact multiple therapeutic areas.
"This acquisition enhances our I&I portfolio and allows us to leverage the investments made in our global organization to accelerate our growth in the medium and long-term."
In addition, the company believes Ozanimod is positioned to potentially become the first S1P receptor modulator to be approved for IBD.
Image: As part of the transaction, Celgene paid $232 per share in cash for Receptos stockholders. Photo: courtesy of FreeDigitalPhotos.net / Wagging DogMedia Limited.