SUMMIT, N.J. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Celgene Corporation (NASDAQ: CELG) and Delinia, Inc. ("Delinia"), a privately held biotechnology company developing novel therapeutics for autoimmune diseases, today announced that they have entered into an agreement for the acquisition of Delinia by Celgene.
The transaction expands Celgene’s Inflammation and Immunology pipeline through the acquisition of Delinia’s lead program, DEL106, as well as related second generation programs. DEL106 is a novel IL-2 mutein Fc fusion protein designed to preferentially upregulate regulatory T cells (Tregs), immune cells that are critical to maintaining natural self-tolerance and immune system homeostasis. Augmenting Tregs as a means of restoring immune system balance has the potential to benefit patients with a variety of autoimmune diseases such as systemic lupus erythematosus and rheumatoid arthritis.
“Delinia is at the forefront of advancing new approaches to treating patients with severe and debilitating autoimmune diseases,” said Rupert Vessey, FRCP DPhil, President of Research and Early Development for Celgene Corporation. “We look forward to progressing DEL106 into the clinic next year.”
“We are delighted to enter into this transaction with Celgene,” said Saurabh Saha, M.D., Ph.D., Chief Executive Officer at Delinia. "Their expanding Inflammation and Immunology franchise and strong commitment to scientific innovation makes them an ideal company to continue to move DEL106 forward.”
Under the terms of the agreement, Celgene will make an initial payment of $300 million. Delinia shareholders will be eligible to receive up to an additional $475 million in contingent payments upon achievement of certain development, regulatory and commercial milestones. The transaction is anticipated to close in the first quarter of 2017.
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global pharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through next-generation solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. For more information, please visit www.celgene.com. Follow Celgene on Social Media: @Celgene, Pinterest, LinkedIn, Facebook and YouTube.
About Delinia, Inc.
Delinia is a biotechnology company developing novel therapeutics for the treatment of autoimmune diseases. Delinia’s lead program DEL106 is an IL-2 mutein Fc fusion protein designed to preferentially upregulate regulatory T cells (Tregs), immune cells that are critical to maintaining natural self-tolerance and immune system homeostasis. Tregs are critically important immune regulatory cells in the pathophysiology of cancer and autoimmune disease. Delinia was co-seeded and financed by Atlas Venture and Sofinnova Partners.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," "outlook" and similar expressions. Forward-looking statements are based on management's current plans, estimates, assumptions and projections, and speak only as of the date they are made. Celgene undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond Celgene’s control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in Celgene’s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.