Celgene Enters into £101 Million Deal With Vividion Therapeutics
Celgene has entered into a multi-year partnership with biotech firm Vividion Therapeutics. In this latest move, Vividion hopes to accelerate its proteomics and chemistry platforms in the identification and development of small molecules as a treatment in oncological, inflammatory and neurodegenerative conditions.
According to Pharmafile, Celgene will pay Vividion £101 million in upfront payments, including equity investment, to “advance new molecules that function through the ubiquitin-proteasome system, modulating specific protein levels for therapeutic benefit.”
The partnership covers the first term of four years, during which Vividion will lead initial drug discovery efforts while Celgene will have exclusive worldwide rights on the first resulting project, as well as certain later ones.
“Vividion has assembled a truly cutting-edge drug discovery platform that offers the opportunity to accelerate drug delivery in new and impactful ways by expanding the druggable proteome and addressing difficult targets,” explained Rupert Vessey, President, Research, and Early Development, at Celgene. “This collaboration will provide both companies with the opportunity for a comprehensive, accelerated drug discovery approach to develop first-in-class therapeutics in areas with high potential impact for patients.”
Diego Miralles, CEO of Vivdion, added, “We are extremely pleased to collaborate with a leading medical innovator, Celgene. Our unique drug discovery capabilities provide new, expanded therapeutic possibilities. We believe we can transform and accelerate the way small molecules are discovered, as our propriety screening technology rapidly identifies and advances chemistry for targets that until now have remained undruggable.”