The U.S. biopharmaceutical giant is interested in Impact Biomedicine’s fedratinib, a kinase inhibitor that has shown promise in treating myelofibrosis, which is a complex blood cancer.
Under the deal, Celgene will pay $1.1 billion upfront for Impact Biomedicines. If the FDA approves fedratinib, Celgene will pay an additional $1.4 billion to the startup. Additionally, Celgene will make payments to Impact Biomedicine depending on sales of the drug. If fedratonib’s net sales exceed $5 billion, Impact will receive $4.5 billion from Celgene.
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