Two Massachusetts biotech startups working on potential cancer treatments said Friday that they have made deals to collaborate with Celgene (CELG), the drug maker being acquired in one of the biggest pharmaceutical mergers ever.
Kyn Therapeutics, a Boston biotech, said it has signed an agreement with Celgene to develop immuno-oncology medicines. Kyn will receive an upfront cash payment of $80 million and an equity investment from Celgene, which will get exclusive options to license two drug development programs. Kyn is eligible for additional payments if it reaches specified goals for developing and marketing new medicines.
