FORMA Therapeutics and Celgene Corporation Establish Broad Strategic Collaboration to Advance Innovative Drugs Targeting Protein

  FORMA Therapeutics and Celgene Corporation Establish Broad Strategic
  Collaboration to Advance Innovative Drugs Targeting Protein Homeostasis

Business Wire

WATERTOWN, Mass. -- April 29, 2013

FORMA Therapeutics Holdings, LLC (FORMA) today announced a strategic
collaboration agreement with Celgene Corporation under which FORMA and Celgene
will discover, develop and commercialize drug candidates to regulate protein
homeostasis targets.

Protein homeostasis, which is important in oncology, neurodegenerative and
other disorders, involves a tightly regulated network of pathways controlling
the biogenesis, folding, transport and degradation of proteins.

The collaboration between FORMA and Celgene will be launched with an
undisclosed up-front payment that will enable Celgene to evaluate selected
targets and lead assets in protein homeostasis pathways during the
pre-clinical phase. Based on such evaluation, Celgene will have the right to
obtain exclusive licenses with respect to the development and
commercialization of multiple drug candidates outside of the United States, in
exchange for research and early development payments of up to $200 million to
FORMA. Under the terms of the collaboration agreement, FORMA is incentivized
to advance the full complement of drug candidates through Phase 1,
whileCelgene will be responsible forall further global clinical development
for each licensed candidate.FORMA is eligible to receive $315 million in
potential payments based upon development, regulatory and sales objectives for
the first ex-U.S. license. FORMA is also eligible to receive potential
payments for successive licenses, which escalate for productivity increasing
up to a maximum of $430 million per program.In addition, FORMA will receive
royalties on ex-U.S. sales and additional payments if multiple drug candidates
reach defined cumulative sales objectives, providing a significant incentive
for FORMA to advance multiple drug candidates.

“We are enthusiastic about the very innovative scientific and business
structure approach this collaboration represents. FORMA’s unique drug
discovery platform and disruptive approach to discovery of high impact
therapies offers a valuable complement to our overall strategy,” said Thomas
Daniel, M.D., President, Global Research and Early Development, Celgene
Corporation.

Kenneth W. Bair, Ph.D., Chief Scientific Officer and Head of Research and
Development, FORMA Therapeutics added, “This collaboration enables us to
demonstrate the power of integrating FORMA’s drug discovery engine with the
innovative translational science ofDaniel D. Von Hoff, M.D., F.A.C.P., and
his colleagues at TD2 to advance a broad pipeline of novel therapies. Further,
protein homeostasis represents a new area of promising drug development after
years of targeting kinase family proteins. This significant drug development
collaboration has the potential to bring new drugs against novel targets and
address unmet medical needs in the treatment of many cancers.”

“We are delighted to have Celgene, one of the world’s leading multinational
biopharmaceutical organizations, as a long-term strategic partner,” said
Steven Tregay, Ph.D., President and CEO, FORMA Therapeutics.“This
collaboration provides the long-term commitment and resources to enable FORMA
to execute on its vision to build an integrated company bringing
transformative cancer therapies to patients in need.”

“This collaboration with FORMA is consistent with our corporate R&D strategy,
engaging in large collaborations with leading companies working in emerging
areas of biology,” stated George Golumbeski, Ph.D., Senior Vice President for
Business Development, Celgene Corporation. “Our partnership with FORMA
represents a remarkably broad and expansive research collaboration,
demonstrating our commitment to treat serious and life threatening diseases.”

“In an era where the biological understanding of disease and associated
molecular pathways is extremely complex, the ability to successfully deliver
preventative and therapeutic solutions requires equally creative approaches be
applied to both the business and scientific aspects of a collaboration. Our
emphasis has been to build unique capital-efficient business structures
tailored to our partner’s needs and optimized to maximize both shareholder
value and accelerated delivery of products to patients,” said Rob Sarisky,
Ph.D., Chief Business Officer, FORMA Therapeutics.

About Protein Homeostasis

Protein homeostasis, which is important in oncology, neurodegenerative and
other disorders, involves a tightly regulated network of pathways controlling
the biogenesis, folding, transport and degradation of proteins. Exploring the
maintenance and regulation of such competing, yet integrated, biological
pathways using a chemical biology approach should directly contribute to the
understanding of diseases associated with excessive protein misfolding,
aggregation and degradation. Successfully mining such a rapidly expanding area
of biology requires resilient commitment to understand deeply the molecular
and biochemical interplay of a vast network of genes, rather than solely
focusing drug discovery efforts on a small handful of targets as is often
typical in the industry. This collaborative effort will dissect the protein
homeostasis system and interrelated processes that control protein
concentration, protein conformation via interactions with chaperone and
folding enzymes, and protein degradation mediated by the ubiquitin system and
other attributes of the proteome.

About FORMA

FORMA Therapeutics targets essential cancer pathways to create transformative
small molecule cancer therapies. FORMA’s novel approach to accessing high
value drug targets, many of which pose significant challenges to conventional
discovery approaches, leverages the integration of its innovative drug
discovery technologies and oncology expertise, enabling efficient screening,
discovery and rational development of small molecule drug candidates with
qualified cellular mechanisms of action. FORMA is leveraging translational and
clinical development capabilities through their strategic relationship with
Dr. Daniel Von Hoff and Translational Drug Development (TD2) to build a robust
pipeline of transformative cancer therapies in areas such as tumor metabolism,
epigenetics, protein homeostasis, and protein-protein interactions. FORMA is
headquartered in Watertown, MA.www.formatherapeutics.com

About TD2

Translational Drug Development (TD2) is an oncology development organization
wholly owned by the Translational Genomics Research Institute (TGen). Using a
dedicated team of professionals with broad experience and understanding in
drug development, TD2 provides innovative services for oncology-focused
biopharmaceutical companies. TD2 is uniquely positioned to support improved
and accelerated development of medicines for life-threatening diseases. TD2
applies rigorous and high-throughput translational preclinical development,
combined with regulatory affairs expertise, to customize clinical trial design
and execution. TD2’s suite of capabilities encourages the timely selection of
patient populations most likely to benefit from a new agent, and the rapid
identification of clinically significant endpoints. TD2 is committed to
reducing the risks and uncertainty inherent in the drug development process
and to the acceleration of patient access to promising treatments. For more
information, visit: www.td2inc.com

Contact:

MacDougall Biomedical Communications
Kari Watson or Charles Liles, +1 781-235-3060
kwatson@macbiocom.com or cliles@macbiocom.com
 
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