Cooley LLP announced today that it advised Massachusetts-based FORMA Therapeutics Holdings, LLC on its second collaboration and option agreement with Celgene Corp. FORMA is an innovative research and development organization in pursuit of ground-breaking medicines in oncology and other therapeutic areas. Celgene is a leader in addressing high unmet medical needs.
Under the terms of the agreement, FORMA and Celgene will discover, develop and commercialize drug candidates to regulate protein homeostasis targets. FORMA retains the rights to define its own research strategy and select drug targets, but it has the potential to receive $600 million in fees from Celgene — $225 million upfront for a 3½-year collaboration and up to $375 million more if Celgene signs on for two additional two-year collaborations. During the third collaboration term, Celgene could exercise its option to buy Forma and the US rights to all of its licensed drug programs.
In April 2013, Cooley also advised FORMA on its strategic collaboration deal with Celgene worth up to $945 million.
The Cooley team advising FORMA was led by partners Marc Recht and Kenneth Krisko and included special counsel Heather Harrington and associate Noelle Dubiansky. Partner Jeremy Naylor provided tax advice.
