Celgene enters worldwide partnership with Agios for IDH inhibitors for treatment of brain cancer
Clients Celgene Corporation
Jones Day advised Celgene Corporation with respect to its strategic collaboration agreement with Agios Pharmaceuticals to develop and commercialize a small molecule that fully penetrates the brain barrier and inhibits IDH1 and IDH2 mutant cancer models. Celgene paid an upfront fee of $10 million and could pay up to $70 million in regulatory milestones. The transaction is unique in that the parties will share all further development costs and profits from commercialization 50/50, split between two agreements, one for the U.S. with Agios leading commercialization in the U.S. and one for the rest of world where Celgene leads commercialization, and operate as a tax partnership.