Triphase Accelerator announced a new strategic pharma deal with Celgene.
The new agreement provides Celgene with the option to acquire a novel bi-specific antibody that Triphase licensed from PharmAbcine.
The bi-specific antibody targets VEGFR-2/TIE 2 and is currently in preclinical studies.
Triphase received an upfront payment and will control product development and retain all commercial rights to the bi-specific antibody.
If Celgene exercises its option to acquire the antibody from Triphase, Celgene will become responsible for product development and retain commercial rights, and Triphase will be eligible to receive regulatory and sales milestone payments if Celgene exercises its option to acquire the antibody.
For further deal information visit Current Agreements (subscription required)
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