Celgene Corporation pays investee company Acetylon Pharmaceuticals $100m upfront and signs development agreement with $500m+ acquisition option.
Acetylon Pharmaceuticals, a US-based healthcare company which is developing histone deacetylase (HDAC) inhibitors for the enhancement of therapeutic outcomes in cancer and other critical human diseases, has entered into a strategic collaboration and option agreement with biopharmaceutical company Celgene Corporation, an existing investor.
The agreement will support the development of Acetylon’s portfolio of HDAC inhibitors. Acetylon is receiving a $100m upfront, non-dilutive cash payment. The agreement includes an exclusive option for the future acquisition of Acetylon by Celgene; if Celgene…
