FORMA Therapeutics (FORMA) announced today that they have successfully met their second preclinical development candidate milestone in their strategic collaboration agreement with Celgene Corporation, announced in April 2014, under which FORMA and Celgene will discover, develop and commercialize drug candidates.
This collaboration enables Celgene to evaluate named clinical candidate profiles and elect to license development and commercialization rights in a stepwise manner, upon FORMA’s successful completion of defined preclinical and clinical activities. Celgene has obtained an exclusive EU license for a defined clinical program and related compounds for use in non-alcoholic steatohepatitis (NASH), in exchange for an undisclosed payment to FORMA. Under the terms of the collaboration agreement, FORMA will advance this program through the end of Phase 1, and Celgene will be responsible thereafter for all further global clinical development for the licensed candidate. Phase 1 studies are planned to begin later this year.
NASH is a serious liver disease affecting up to 10% of the adult population in the United States. This chronic condition is hallmarked by metabolic dysfunction and excessive fat accumulation in the liver, or steatosis, which can ultimately promote inflammation and hepatocellular injury. As a result, a substantial fraction of those afflicted with NASH can progress to cirrhosis where liver transplantation currently represents the only viable treatment option.
Rupert Vessey, FCRP DPhil, President, Research and Early Development at Celgene Corporation noted, “Celgene remains committed to the advancement of highly differentiated programs that allow us to advance the course of healthcare through innovative therapeutic solutions that benefit patients, healthcare and society. FORMA continues to demonstrate a unique discovery approach and high level of productivity.”
John Hohneker, M.D., Executive Vice President and Head FORMA R&D added, “FORMA’s exploration of Epigenetic, Metabolic and Protein Homeostatic protein families, coupled with the ability to rapidly discover and deliver qualified clinical candidates against medically-important targets, will hopefully offer promise to patients worldwide. This milestone demonstrates our productive collaboration with Celgene which continues to provide a unique opportunity to build an innovative pipeline of novel therapies relevant to many therapeutic areas.”
FORMA Therapeutics' scientists are passionate about discovering and developing medicines that will make a difference in oncology, inflammation & immunity, and other serious diseases. The Company’s fully integrated R&D team drives discovery and early clinical development of therapeutics for qualified targets in the areas of epigenetics, protein homeostasis and metabolism. Leveraging a world class network of academic investigators, clinical experts and partners, FORMA combines deep biology insight, chemistry expertise and early clinical development capabilities, to create drug candidates that will ultimately provide profound patient benefit.
FORMA is headquartered in Watertown, MA near the epicenter of the Cambridge Life Sciences cluster, with additional chemistry operations in Branford, CT. www.formatherapeutics.com
Join our conversation on Twitter @FORMAInc .
View source version on businesswire.com: http://www.businesswire.com/news/home/20160831005383/en/Business Wire
Last updated on: 31/08/2016
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.