$225M UP FRONT IN CASH
New pact strengthens Forma Therapeutics, Celgene tie; potential buyout option added
By Jennifer Boggs
Tuesday, April 1, 2014
Eleven months ago, Celgene Corp. tapped Forma Therapeutics Holdings LLC for a multicandidate collaboration targeting the relatively new biology of protein homeostasis. In a deal, disclosed Tuesday, the big biotech returned, inking a second, wider deal that brings Forma $225 million in up-front cash and sets the stage for two additional collaborations and a buyout option down the road.
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