Celgene Corp. has extended its strategic collaboration with PharmAkea Inc. to leverage PharmAkea’s drug discovery platform and small-molecule therapies targeting fibrotic diseases.
 
Celgene will pay $9 million to extend the collaboration for 9 months. PharmAkea is currently conducting a Phase I SAD and MAD trial, as well as toxicology studies that will enable Phase II trials on its lead program, a small molecule LOXL2 inhibitor. The company is also conducting IND-enabling studies for a Phase I trial on its second program, an Autotaxin inhibitor.
 
“We have been very impressed with the progress the team at PharmAkea has made over the past three years,” said Rupert Vessey, president of Research and Early Development at Celgene. “This extension allows the company to further realize the potential of their programs and to complete some key activities.”
 
“Our relationship with Celgene has been extremely collaborative,” said Robert Williamson, chief executive officer of PharmAkea. “This extension is a validation and endorsement of our work to date.  We look forward to continuing our work with Celgene.”