Celgene buys into GlobeImmune's cancer immunotherapy

GlobeImmune ($GBIM), reeling from a costly clinical failure, secured a commitment from long-time partner Celgene ($CELG) to collaborate on a new cancer immunotherapy. Celgene is in-licensing GI-6207, a Phase II treatment for thyroid cancer, for $1.9 million up front and the promise of regulatory and sales milestones down the road. The deal is part of a 2009 agreement between the two companies through which Celgene has the right to buy into cancer candidates developed using GlobeImmune's T cell technology. Meanwhile, GlobeImmune is pressing forward after its Gilead Sciences ($GILD)-partnered hepatitis B vaccine failed in Phase II, leading the biotech to lay off most of its workers in June. News

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