Celgene chips in $20M to extend Agios cancer deal

Agios ($AGIO) is banking a $20 million payment from Celgene ($CELG) for a deal to extend their collaboration on cancer metabolism--originally struck in 2010--by another year. Celgene now has an exclusive option on any of the drug candidates they discover through April 2015. Agios initially scored a $130 million upfront for the pact. "We are pleased that while AG-221 and AG-120 are advancing into clinical development, significant progress is also being made on new targets in cancer metabolism," noted Tom Daniel, the research chief at Celgene, which has been executing a long lineup of deals in recent years. Release

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