Celgene Corp. (NASDAQ:CELG) partnered with the NantBioScience subsidiary of Patrick Soon-Shiong's NantWorks LLC (Los Angeles, Calif.) to develop a pipeline of cancer drugs using the nanoparticle albumin-bound (nab) technology Celgene gained in its acquisition of Shion-Song's former company, Abraxis Bioscience Inc. The deal includes rights to two preclinical compounds-- NTB-011, a nab formulation of a colchicine dimer and NTB-010, a nab formulation of the geldanomycin analogue 17-AAG. NantBioScience plans to start Phase I trials of both by 2015. NantBioScience will receive $75 million from Celgene in an upfront option fee and equity investment. Celgene has an option to license back NTB-011 and NTB-010 through completion of Phase I testing.
From here: http://www.biocentury.com/dailynews/company/2014-01-14/celgene-nantbioscience-in-cancer-deal
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