By the num­bers: 2-year tal­ly of Cel­gene's biotech part­ner­ship deals tops $3B in cash

Bob Hug­in and his busy deal­mak­ing wiz George Golumbes­ki have po­si­tioned Cel­gene as an in­dus­try-lead­ing wheel­er and deal­er.

$1 bil­lion to part­ner with Juno on CAR-T? OK. $200 mil­lion in cash to rewrite a pact with Agios? They’ll take that. An­oth­er $450 mil­lion to part­ner with As­traZeneca on its check­point? No prob­le­mo. As big­ger com­pa­nies fret­ted over the val­u­a­tions they were see­ing in the biotech boom, Cel­gene’s ex­ec­u­tive team were struck by the op­por­tu­ni­ties. “If we see them, we’re go­ing to go af­ter them at the right time,” Cel­gene CEO Bob Hug­in told me last sum­mer, af­ter grab­bing Re­cep­tos for its im­munol­o­gy pipeline for $7.2 bil­lion.

Any doubts on that score should have been laid to rest with their lat­est deal to mar­ry up with Jounce for $261 mil­lion in an up­front and eq­ui­ty in­vest­ment, a blend that Cel­gene has long liked. Golumbes­ki is al­so a known fan of the op­tion agree­ment.

To give you a bet­ter idea of just how pro­lif­ic Cel­gene has been in re­cent years, we asked RBC’s Michael Yee if we could share his chart col­lec­tion of Cel­gene’s part­ner­ship deals. To put this in some per­spec­tive, we know from the com­pa­ny’s state­ments that it has com­mit­ted $3.2 bil­lion in cash for Yee’s list of pacts just over the past two years.

That’s more than what Gilead spent for all of R&D in 2015.

There’s al­so at least $5 bil­lion in mile­stones to con­sid­er (Cel­gene doesn’t re­lease every fig­ure tied to a deal). In­ter­est­ing­ly, that ra­tio of cash to mile­stones helps il­lus­trate why biotech com­pa­nies are so joy­ful when they see Golumbes­ki at the deal ta­ble. It al­so doesn’t hurt that Cel­gene typ­i­cal­ly leaves its part­ners in charge of the in­no­va­tion de­vel­op­ment work need­ed to be done.

Here’s a list of se­lect Cel­gene part­nered pro­grams:

Jounce Ther­a­peu­tics Jul-16 JTX-2011 + suc­ces­sor Im­muno‐on­col­o­gy
Nurix Sep‐15 Small Mol­e­cule Drug Dis­cov­ery On­col­o­gy, In­flam­ma­tion, Im­munol­o­gy
Epizyme Jul‐15 (+1) 3 Pre­de­fined Tar­gets; DOTL1 To be De­ter­mined; MLL
Juno Ther­a­peu­tics Jun‐15 CD19 and CD22 CAR‐T Can­cer, Au­toim­mune Dis­eases
Lyc­era Jun‐15 LYC‐30937 Im­muno‐on­col­o­gy
As­traZeneca Apr‐15 ME­DI4736 Can­cer Hema­tol­ogy
Zymeworks Jan‐15
Sutro Bio­phar­ma Oct-14 (+1) An­ti­body Dis­cov­ery Undis­closed Im­muno‐on­col­o­gy
No­gra Phar­ma Apr‐14 GED‐0301 Crohn’s dis­ease
Abide Ther­a­peu­tics Feb‐14 AB101131; Drug Dis­cov­ery In­flam­ma­tion; Im­munol­o­gy
Nant­Bio­Science Jan‐14 NTB‐011, NTB‐010; nab‐based mol­e­cules Can­cer
On­coMed Dec‐13 Demi­cizum­ab; 6 an­ti‐CSC Prod­ucts Sol­id tu­mors, NSCLC, Pan­cre­at­ic
Phar­mAkea Oct‐13 Small‐mol­e­cule Dis­cov­ery Can­cer, Fi­brot­ic dis­ease
Adimab Aug‐13 An­ti­body Dis­cov­ery Undis­closed
Acety­lon Jul‐13 Ri­col­i­no­s­tat; ACY‐738 Can­cer; Hema­tol­ogy
Ar­ray Bio­phar­ma Jul‐13 In­flam­ma­tion
Ten­gion Jul‐13 Neo-Kid­ney Aug­ment Pro­gram CKD
Con­cert Phar­ma May‐13 CTP‐730 In­flam­ma­tion
FOR­MA ther­a­peu­tics Apr‐13 Pro­tein Home­osta­sis
Blue­Bird Bio Mar-13 (+2) CAR‐T Cell BC­MA Hema­tol­ogy
Presage Bio­sciences Mar‐13 Drug‐Dis­cov­ery Plat­form Sol­id tu­mors
Ven­tiRx Oct‐12 VTX‐2337 Sol­id tu­mors
In­hi­bRx Jun‐12 An­ti­body Dis­cov­ery Undis­closed
Anap­tys­Bio Apr‐12 An­ti­body Dis­cov­ery Can­cer, In­flam­ma­tion
Quan­ti­cel Phar­ma­ceu­ti­cals Nov‐11 Can­cer
Agios Apr-10 (+2) AG‐221, AG‐881 IDH2/pan Mu­tant Can­cers
GlobeIm­mune May‐09 GI‐6301, GI‐6207, GI‐4000 On­col­o­gy
Ac­celeron Feb‐08 So­tater­cept, Lus­pa­ter­cept Be­ta‐Tha­lassemia, MDS, CKD
Cour­tesy Michael Yee, RBC Cap­i­tal Mar­kets


And this is the slide from Cel­gene’s own deck show­ing off their part­ner­ing prowess:

Cel­gene 2016 JPM Pre­sen­ta­tion (pg 26)

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