Blog Coverage Celgene Acquires Delinia; Set to Expand Inflammation and Immunology Portfolio

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LONDON, UK / ACCESSWIRE / January 27, 2017 / Active Wall St. blog coverage looks at the headline from Celgene Corp. (NASDAQ: CELG) as the Company announced on January 26, 2017, that it has agreed to acquire, a privately held biotechnology Company, Delinia, Inc. The acquired Company deals in development of novel therapeutics for autoimmune diseases and is set to receive and initial payment of $300 million as per terms of the agreement. An additional $475 million in contingent payments will be offered to Delinia’s shareholders subject to achievement of certain development, regulatory, and commercial milestones. Register with us now for your free membership and blog access at:

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One of Celgene’s competitors within the Biotechnology space, Vertex Pharmaceuticals Inc. (NASDAQ: VRTX), reported on January 25, 2017, its consolidated financial results for the full-year and quarter-ended December 31, 2016. AWS will be initiating a research report on Vertex Pharma in the coming days.

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The Agreement

Celgene views this transaction as an expansion of its inflammation and immunology pipeline through the takeover of Delinia’s flagship program, DEL106, along with several other related second generation programs. DEL106 is a treatment used to preferentially upregulate T cells (Tregs) through its novel IL-2 mutein fusion protein design. T cells are the immune cells responsible for maintaining self-tolerance and immune system homeostasis. The treatment, subject to clearance of test results, will act as a means of restoring immune system balance and potentially, benefit patients with a variety of autoimmune diseases including rheumatoid arthritis and lupus erythematosus.

Breaking down Delinia

Delinia is a Cambridge, Massachusetts based biotechnology firm and executes research operations in San Francisco, California. The Company raised $35 million in Series A investment on September 14, 2016, where the round was co-led by Sofinnova Partners and Atlas Venture. Delinia’s primary experimental drug is the DEL106. It can initiate the change in the level of T-cell and in focus on potentially restoring the balance in the immune system safely and effectively while treating diseases like lupus and rheumatoid arthritis. This agreement is viewed by Delinia as an expansion of inflammation and immunology (I&I) franchise while delivering strong commitment to scientific innovation and the right platform to develop and propagate the DEL106 forward.

Celgene

Celgene holds one of the best portfolios in the I&I segment and hence Delinia’s business complements its product pipeline, including under-development treatments. Over the past decade, Celgene has developed an I&I portfolio of both internally discovered and externally sourced programs. Celgene discovered Otezla, a flagship I&I medicine, which was reportedly the fastest psoriasis drug to hit $1 billion in sales from launch. Celgene’s portfolio includes several high-profile externally sourced therapies, including ozanimod, through the acquisition of Receptos, Inc., for a reported $232.00 per share in cash, or a total of approximately $7.2 billion on July 14, 2015. The other pipeline therapy is the mongersen/GED-0301 acquired through a license with Nogra Pharma.

Stock Performance

Celgene’s share price finished yesterday’s trading session at $111.53, declining 2.15%. A total volume of 7.09 million shares exchanged hands, which was higher than the 3 months’ average volume of 4.97 million shares. The stock has advanced 14.24% and 3.16% in the last three months and past six months, respectively. The stock is trading at a PE ratio of 42.26 and currently has a market cap of $87.20 billion.

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