Celgene/Pharmacopeia's inflammatory drug enters Ph I

Pharmacopeia says that fellow USA-based Celgene has initiated a Phase I clinical study of a compound developed under their collaboration agreement. Les Browne, chief executive of Pharmacopeia, said: "this milestone expands our clinical development-stage pipeline to eight programs, of which we are developing two internally."

Celgene is solely responsible for the funding and management of development and commercialization of this inflammatory disease candidate, Pharmacopeia noted, adding that it currently receives an annual license fee for this program and is eligible for milestones if it advances further in clinical trials. The US firm will also receive royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.