Celgene scoops up freshman autoimmune startup Delinia in $775M buyout
Four months ago, Atlas Venture partner Saurabh Saha set up shop at the newborn Delinia with a preclinical autoimmune drug, $35 million in startup cash and a skeleton crew. Today, Celgene says it struck a deal to buy the startup for $300 million up front and up to $475 million in milestones, adding a new drug for its autoimmune and inflammation pipeline.
Celgene is getting a preclinical lead program in the deal, which centers primarily on DEL106, as well as related second generation programs. DEL106 is an IL-2 mutein Fc fusion protein designed to upregulate regulatory T cells (Tregs), immune cells that are critical to maintaining natural self-tolerance — and avoiding autoimmune diseases.
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