Dragonfly to receive a $12M in-licensing payment and is eligible to receive potential future milestones and royalties on net sales.
WALTHAM, Massachusetts, Nov. 13, 2019 /PRNewswire/ -- Dragonfly Therapeutics, Inc. ("Dragonfly" or the "Company"), today announced it has licensed another TriNKET™ immunotherapy drug candidate to Celgene Corporation and its affiliates ("Celgene"). Today's announcement marks the third opt-in executed by Celgene since the companies announced a collaboration focused on hematological malignancies in June 2017, and follows on Dragonfly's December 2018 announcement of Celgene's opt-in for the first two TriNKET™ immunotherapy drug candidates.
"We continue to be impressed with the quality of candidates developed using Dragonfly's TriNKET™ technology," said Rupert Vessey, FRCP DPhil, President of Research and Early Development for Celgene Corporation. "Since opting in on the first two Dragonfly candidates in 2018, we have had the ability to further assess Dragonfly's TriNKET™ drug candidates and continue to be encouraged by the potential treatment options for cancer patients offered by harnessing the power of NK-cells."
"We are pleased with the pace of our development efforts and the additional validation of our platform that these opt-in decisions by Celgene represent," said Dragonfly CEO Bill Haney. "As we advance our own programs, including our clinical stage asset DF-1001, we look forward to watching the continued progression of our partnered programs as we work to bring potential new immuno-oncology treatment options to patients with cancer."
About Dragonfly Dragonfly Therapeutics is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing therapies that use its novel TriNKET™ technology to harness the body's innate immune system to bring breakthrough cancer treatments to patients.