Business
Agios Provides Update on 2016 Collaboration Agreement with Celgene, a Wholly Owned Subsidiary of Bristol Myers Squibb
– Celgene Declines to Exercise Opt-in Right for MAT2A Inhibitor AG-270 – – Research Term of the Metabolic Immuno-oncology Collaboration to Conclude at the End
About this update from Agios Pharmaceuticals, Inc.
[{"type":"text","content":"– Celgene Declines to Exercise Opt-in Right for MAT2A Inhibitor AG-270 –\n – Research Term of the Metabolic Immuno-oncology Collaboration to Conclude at the End of the Initial Four-year Period in May 2020 – – AG-270 Phase 1 Combination Expansion Trials Ongoing – CAMBRIDGE, Mass., March 25, 2020 (GLOBE NEWSWIRE) -- Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) today provided an update on its 2016 collaboration agreement with Celgene Corporation, a wholly owned subsidiary of Bristol Myers Squibb Company. Celgene has formally declined to exercise its opt-in right for AG-270, a first-in-class methionine adenosyltransferase 2a (MAT2A) inhibitor development candidate currently in a Phase 1 study in combination with taxane-based therapy as a potential treatment for methylthioadenosine phosphorylase (MTAP)-deleted non-small cell lung cancer and pancreatic cancer. In addition, the research term of the companies’ metabolic immuno-oncology collaboration, focused on altering the metabolic state of immune cells to enhance the body's immune response to cancer, will conclude at the end of the initial four-year period in May 2020. There is one undisclosed, ongoing metabolic immuno-oncology research program that Celgene may designate for continued development within sixty days following the end of the research term; if it does so, Celgene would have an opt-in right for this program through the end of Phase 1 dose escalation. “We are grateful to Celgene, and now Bristol Myers Squibb, for their longstanding partnership, which has enabled important research and clinical development focused on the advancement of potential innovative treatment approaches for patients with cancer,” said Jackie Fouse, Ph.D., chief executive officer at Agios. “We are now evolving our relationship to enable both companies to advance our respective priorities with full strategic flexibility.” “We are proud of the work our scientists have done to significantly advance knowledge in the field of metabolic immuno-oncology, and through these efforts we have built capabilities now being applied across multiple research programs,” said Bruce Car, Ph.D., chief scientific officer at Agios. “We will leverage the insights gained under the Celgene collaboration to continue our research efforts in this area in a strategic and targeted manner. Moving forward, Agios retains full rights to ...