Celgene Licenses Two Dragonfly Immunotherapy Candidates

Dragonfly Therapeutics, Inc. has licensed two TriNKET immunotherapy drug candidates to Celgene Corp. and its affiliates for $12 million each plus milestones and royalties. The licenses represent the first two of four hematological cancer targets from the companies' June 2017 collaboration, which was recently expanded to provide Celgene with the option to license products for an additional four-targets, bringing the total to eight.

"These licenses provide Celgene exclusive worldwide intellectual property rights to the first two products developed for Celgene using Dragonfly's TriNKET technology," said Rupert Vessey, FRCP DPhil, president of Research and Early Development for Celgene. "Based on the evidence we've seen, we believe these TriNKET drug candidates offer an exciting opportunity to help cancer patients by offering a novel mechanism of action in immune oncology."

"We are thrilled to hand off two very promising TriNKET drug candidates to Celgene and excited to see them move the candidates forward," said Dragonfly chief executive officer, Bill Haney. "The Celgene team have been fantastic collaboration partners over the past 18 months, and we look forward to continuing our efforts to bring potential new immune-oncology treatment options to patients with cancer."

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