MONTREAL & SAN DIEGO--(BUSINESS WIRE)--Inception IBD Inc., a Québec-based biotechnology company backed by Versant Ventures, Fonds de solidarité FTQ, and Inserm Transfer Initiative, today announced an exclusive, strategic collaboration with Celgene Corp. to discover and develop novel therapeutics for ulcerative colitis and Crohn’s disease.
Under terms of the agreement, Inception IBD is eligible to receive up to US$40 million in cash payments during the course of the collaboration, which enables Inception IBD to advance small molecule therapeutics from preclinical discovery to late preclinical development. The collaboration allows Inception IBD to significantly expand current drug discovery efforts, while Celgene will have a right to acquire the company upon conclusion of the collaboration.
Inception IBD is developing a novel approach to drug discovery based on genomic targets identified from tissue analysis of inflammatory bowel disease (IBD) patients and a proprietary translational platform developed by leading academics in the field. These capabilities allow the company to focus on unique and important hallmarks of the disease including epithelial barrier dysfunction. The program is led by a team of experienced drug discoverers at Inception Sciences’ newest operating site in Montréal, established in 2014. Inception IBD is the first company to be incubated and launched from this site.
“We are excited to partner with Celgene on this effort,” said Paul C. Anderson, Ph.D., CSO of Inception IBD and Site Head of Inception Montréal. “We believe there is significant unmet need in IBD for differentiated therapeutic approaches and are committed to developing drugs and biomarkers that can bring real improvement to patient care.”
"Our enthusiasm for the Inception Sciences Montréal team, their technology, and their connections to academic leaders in Inflammatory Bowel Disease is reflected in this important extension of our commitment to provide innovative therapies for these patients," said Rupert Vessey, FCRP, DPhil, Senior Vice President, Translational Development at Celgene.
About Inception Sciences
Inception Sciences is a drug discovery incubator and company, with research sites in San Diego, Vancouver and Montréal. In collaboration with pioneering academic researchers, Inception Sciences has created multiple new start-up companies for translating breakthrough scientific insights into novel therapies. For more information visit www.inceptionsciences.com.