Delinia, a privately held biotechnology company developing novel therapeutics for autoimmune diseases, today announced that they have entered into an agreement for their acquisition 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.
This article has been republished from materials provided by Delinia. Note: material may have been edited for length and content. For further information, please contact the cited source.