Adimab announced a multi-target discovery biotech deals collaboration with Celgene Corporation.
Under terms of the biotech deals Agreement, Adimab will use its proprietary platform to generate therapeutic antibodies against multiple targets.
Celgene will have the right to develop and commercialize all therapeutic antibodies resulting from the biotech deals.
Adimab and Celgene have entered into biotech deals whereby Adimab will use its proprietary discovery and optimization platform to identify fully human antibodies against multiple targets.
For each target, the biotech deals grant Celgene the right to research antibodies generated during the collaboration for potential use as therapeutic products.
Under the terms of the biotech deals, Adimab will receive an undisclosed upfront payment.
In addition, for each target, Celgene will have the option to exclusively license antibodies generated during the biotech deals.
If Celgene exercises its option for a particular target, Adimab would receive license fees, clinical milestones and royalties on therapeutic product sales.
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