The strategic agreement has been extended from three years to four, with biomedical company Celgene providing additional equity to cancer metabolic researcher Agios.
US-based biopharmaceutical company Agios extended a strategic collaboration agreement with biopharmaceutical corporation Celgene on Wednesday, with Celgene making an investment of $20m upfront.
The two firms signed the original agreement in April 2010, granting Celgene an exclusive option to potential drugs discovered by Agios’ cancer metabolism research.
As part of the agreement Celgene paid $130m to Agios upfront, an undisclosed amount of which was equity. Agios could also receive up to $120m in milestone payments, as well as…
