US-based biotech company Celgene collaborates with MedImmune Ventures-backed VentiRx Pharmaceuticals on development of cancer immunotherapies in blood, receiving options to both acquire equity as well as buy the company.
US-based biotech company Celgene has paid $35m to San Diego-based VentiRx Pharmaceuticals in a collaboration with the aim to promote the development of cancer immunotherapies in blood.
Terms of the deal have yet to be disclosed but Celgene now has the option to make a future equity investment in VentiRx and an exclusive option to acquire the company at a pre-determined price if clinical trials prove positive.
Investment in VentiRx now totals $86.6m with a $51.6m injection of Series A…
