Delinia to Be Acquired by Celgene
On January 26, 2017, global pharmaceutical company Celgene Corporation and Delinia, a privately held biotechnology company developing novel therapeutics for autoimmune diseases, announced that they have entered into an agreement for the acquisition of Delinia by Celgene. WSGR is advising Delinia on intellectual property matters related to the acquisition.
Under the terms of the agreement, Celgene will make an initial payment of $300 million. Delinia shareholders will be eligible to receive up to an additional $475 million in contingent payments upon the achievement of certain development, regulatory, and commercial milestones. The transaction, which expands Celgene's inflammation and immunology pipeline through the acquisition of Delinia's lead program, DEL106, as well as related second-generation programs, is anticipated to close in the first quarter of 2017.
For more information, please see the companies' joint press release.