Celgene to receive exclusive options to license a number of
Skyhawk's product candidates directed to multiple high-value
autoimmune disorder, oncology, and immuno-oncology
targets.
Skyhawk to receive $80 Million
upfront payment and is eligible for potential milestone
payments and royalties.
WALTHAM, Massachusetts,
Nov. 12, 2019 /PRNewswire/ -- Skyhawk
Therapeutics, Inc. (Skyhawk) today announced that it has entered
into a second global strategic collaboration with an affiliate of
Celgene Corporation (NASDAQ: CELG). This new agreement
follows the June 2018 collaboration
between the two companies and focuses on targets relevant to the
field of autoimmune disorders, oncology, and immuno-oncology,
providing further validation of Skyhawk's proprietary
SkySTARTM technology platform. The scope of the
collaboration allows the parties to systematically interrogate a
range of targets that have been clinically validated or are highly
associated with the genetic basis of disease but have been
considered undruggable using conventional small molecule
therapies.
Under the collaboration agreement, Skyhawk grants Celgene
options to exclusively license worldwide intellectual property
rights to candidates discovered and developed under the
collaboration that are directed to program targets. Following
Celgene's exercise of its option, Celgene will be responsible for
further development and commercialization.
"Our impressive progress to date on targets that are part of our
2018 collaboration has led Celgene to enter into this new agreement
focused on challenging targets beyond neurology," said Bill Haney, co-founder and CEO of Skyhawk
Therapeutics. "This provides further evidence of the ability of our
SkySTARTM technology platform to rapidly identify
druggable sites and unique chemical matter to correct mRNA
mis-splicing that may result in new treatment options for
patients. We look forward to the advancement of programs
under this new collaboration and the potential to bring new
treatment options to patients with unmet medical needs."
"The Skyhawk team's rapid and substantive progress demonstrates
to us the unique advantages of the SkySTARTM platform
and led us to expand our relationship. We see Skyhawk's
platform as a key disruptive technology that will support the
autoimmune, oncology and immuno-oncology pipelines of the company
we are today, and the company we are planning to be," said
Rupert Vessey, M.A., B.M., B.Ch.,
F.R.C.P., D.Phil., President, Research & Early Development,
Celgene Corporation."
About Skyhawk Therapeutics
Skyhawk Therapeutics is
committed to discovering, developing and commercializing therapies
that use its novel SkySTARTM (Skyhawk Small molecule Therapeutics for
Alternative splicing of RNA) platform to build small molecule drugs
that bring breakthrough treatments to patients.
For more information visit:
www.skyhawktx.com
https://www.linkedin.com/company/skyhawk-therapeutics/
https://twitter.com/Skyhawk_Tx
SKYHAWK MEDIA CONTACT:
Anne Deconinck
anne@skyhawktx.com
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