Celgene will fund drug discovery startup

10/16/2012 | Genetic Engineering & Biotechnology News

Celgene will provide seed and venture funding to PharmAria for research on cancer and fibrotic disease drugs and will work with the startup to secure additional venture capital in return for an equity stake and licensing options. "The unique deal structure with Celgene provides PharmAria with the ability to create significant value for investors, while simultaneously providing Celgene with access to additional world class research and novel clinical candidates for its pipeline," said PharmAria president John Hutchison.

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