PTC Therapeutics gains $20M on new tech pact

These are good times for PTC Therapeutics, one of this year's Fierce 15. Just after being profiled in Forbes, PTC's Stuart Peltz announced that Celgene is investing $20 million in the company in exchange for an option for an exclusive R&D deal related to two cancer targets. The deal provides Celgene with the use of PTC's GEMS technology to develop two small molecule drugs.

Peltz learned long ago how to leverage PTC's technology into lucrative partnership deals with other companies. This pact is another sign that PTC can continue to fund much of its own work by hiring out its technology, which is one reason why the company decided to drop a recent move to go public. Pfizer, CV Therapeutics and Schering-Plough have also inked technology pacts with PTC.

- see PTC's release on the deal

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