Celera sells therapeutic programs to Pharmacyclics

By Elaine Rigoli

Tampa, Fla., April 10 - Celera Genomics, an Applera Corp. business, and Pharmacyclics announced that Pharmacyclics has acquired Celera technology and intellectual property relating to drugs that target histone deacetylase (HDAC) enzymes, selective HDAC enzymes, angiogenesis molecules and B cell tyrosine kinases involved in immune function.

The financial terms of the transaction include an upfront cash payment of $2 million and an equity payment of between 500,000 and 1 million shares of Pharmacyclics common stock, depending on Pharmacyclics' stock price during a specified period, according to a news release.

If these programs meet certain developmental-stage milestone events and result in drugs that are approved and commercialized in key geographical markets, they may generate potential future milestone payments to Celera of up to $144 million, the release said.

In addition, Celera will be entitled to royalty payments based on annual sales of any drugs commercialized from the three programs.

According to the news release, Pharmacyclics has acquired the following from Celera:

• HDAC inhibitor drug candidates in phase 1 clinical trials for treatment of refractory solid tumors;

• HDAC-8 selective inhibitor in preclinical development for the potential treatment of cancer;

• Factor 7a inhibitor targeting a tumor signaling pathway involved in angiogenesis, tumor cell growth and metastases, and with potential applications in anticoagulation and cardiology; and

• B-cell-associated tyrosine kinase inhibitors, which have potential utility in lymphoma and autoimmune diseases, such as rheumatoid arthritis.

Pharmacyclics is a Sunnyvale, Calif.-based pharmaceutical company developing products to treat cancer, atherosclerosis and other diseases.

Celera is a Rockville, Md.-based biopharmaceutical company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.