Abstract
Even as it is about to be acquired by Bristol-Myers Squibb, Celgene continues to be a prodigious dealmaker. The biotech firm recently added two new partners, Kyn Therapeutics and Obsidian Therapeutics, to further build its immuno-oncology portfolio. Earlier this month, BMS agreed to buy Celgene for $74 billion in a deal designed to create a force in oncology. Celgene has built half of its pipeline through alliances with smaller biotechs, a strategy that does not appear to be slowing while the BMS merger proceeds. Celgene will pay $80 million up front and take a stake in Kyn, a Cambridge, Massachusetts-based start-up developing compounds that interrupt metabolic pathways known to dampen the immune response. The pact gives Celgene the option to license two early-stage programs, one to develop an antagonist of a transcription factor called aryl hydrocarbon receptor and the other to create a potent, stable version of the naturally occurring
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