Celgene Corp. has entered an agreement to acquire Avila Therapeutics, Inc. for $350 million in cash. The acquisition includes Avila’s AVL-292, a highly-selective Bruton’s tyrosine kinase (Btk) inhibitor, currently in Phase I development, as well as Avila’s Avilomics Platform.

Avila Therapeutics is eligible to receive an additional $195 million for milestones based on development and regulatory approval of AVL-292, as well as $380 million in potential milestone payments contingent upon the development and approval of candidates generated from the Avilomics platform. 

“Avila Therapeutics is a remarkable company that is aligned with our commitment to improve the lives of patients worldwide through innovative science and disease-altering therapies,” said Tom Daniel, M.D., president of Research and Early Development for Celgene. “In particular, we see Avila’s unique approach to protein silencing as an area of great promise for our research initiatives in hematology, oncology and immune-inflammatory diseases.”

“Celgene and Avila are uniquely matched, both strategically and scientifically,” said Katrine Bosley, Avila’s chief executive officer. “Celgene’s global leadership in hematology and emerging franchise in immune-inflammatory diseases will accelerate and expand the clinical development of our Btk inhibitor program. Equally important, we value the high standards of creativity and rigor of Celgene’s scientists. We believe working together may accelerate the advancement of more innovative medicines from the Avilomics platform.”