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|
|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|
|Acetylon||Jul‐13||Ricolinostat; ACY‐738||Cancer; Hematology|
|Tengion||Jul‐13||Neo-Kidney Augment Program||CKD|
|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|
|AnaptysBio||Apr‐12||Antibody Discovery||Cancer, Inflammation|
|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