Second collaboration between FORMA Therapeutics and Celgene

Privately-held drug discovery firm FORMA Therapeutics has entered a second strategic collaboration and option agreement with fellow USA-based biotech firm Celgene (Nasdaq: CELG).

As well as expanding its agreement with Celgene (The Pharma Letter April 30, 2013), FORMA has a number of lucrative collaborations with drug majors, including Roche, Boehringer Ingelheim, Johnson & Johnson and Eisai (TPLs passim).

This new collaboration will enable FORMA to extend its unique capabilities across broad areas of chemistry and biology. On signing the agreement, FORMA received an upfront cash payment of $225 million, and the parties entered into a collaboration with a term of three and a half years.