Celgene will not exercise option to license OncoMed ovarian cancer candidate

OncoMed (OMED) announced that Celgene (CELG) has notified OncoMed that due to strategic product portfolio considerations Celgene has decided not to exercise its option to license OncoMed’s bispecific antibody navicixizumab. Celgene continues to retain its options to license OncoMed’s etigilimab and rosmantuzumab under the collaboration. OncoMed and Celgene are working to formalize the termination of the collaboration agreement with respect to navicixizumab, and OncoMed expects to retain worldwide rights to navicixizumab. OncoMed is currently conducting a Phase 1b clinical trial of navicixizumab in combination with paclitaxel in patients with platinum-resistant late-stage ovarian cancer.
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