Celgene In-licenses First Two Dragonfly TriNKET™ Immunotherapy Candidates

Dragonfly Therapeutics, Inc. (“Dragonfly” or the “Company”), announced it has licensed two TriNKET™ immunotherapy drug candidates to Celgene Corporation and its affiliates (“Celgene”) for $12m each plus prospective milestones and royalties. The licenses represent the first two of four hematological cancer targets from the companies’ June 2017 collaboration. The announcement follows recent news of an expansion of the June 2017 collaboration providing Celgene with the option to license products for an additional four-targets, increasing the total number of collaboration targets between the companies to eight (see also Dragonfly Therapeutics Inc.).

“These licenses provide Celgene exclusive worldwide intellectual property rights to the first two products developed for Celgene using Dragonfly’s TriNKET technology” said Rupert Vessey, FRCP DPhil, President of Research and Early Development for Celgene Corporation. “Based on the evidence we’ve seen, we believe these TriNKET drug candidates offer an exciting opportunity to help cancer patients by offering a novel mechanism of action in immune oncology.”

https://www.marketscreener.com/CELGENE-CORPORATION-8736/news/Celgene-Dragonfly-Therapeutics-Announces-Celgene-In-license-of-First-Two-TriNKET-trade-Immunother-27783188/