OncoMed Provides Update on Navicixizumab Partnership
ONCOMED PHARMACEUTICALS (OMED)
Last oncomed pharmaceuticals earnings: 11/1 04:05 pm
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Source: GlobeNewswire
REDWOOD CITY, Calif., Sept. 20, 2018 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals Inc. (NASDAQ: OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, today announced that Celgene has notified OncoMed that due to strategic product portfolio considerations Celgene has decided not to exercise its option to license OncoMed’s bispecific antibody navicixizumab (anti-DLL4/VEGF bispecific, OMP-305B83). Celgene continues to retain its options to license OncoMed’s etigilimab (anti-TIGIT monoclonal antibody, OMP-313M32) and rosmantuzumab (anti-RSPO3, OMP-131R10) under the collaboration. OncoMed and Celgene are working to formalize the termination of the collaboration agreement with respect to navicixizumab, and OncoMed expects to retain worldwide rights to navicixizumab. “While we are disappointed in Celgene’s decision, we thank them for the productive interactions in evaluating navicixizumab, and we respect their decision given
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