Cooley Advises FORMA on $600 Million Collaboration with Celgene

Boston – April 11, 2014 – Cooley LLP announced today that it advised Massachusetts-based FORMA Therapeutics Holdings, LLC on its second collaboration and option agreement with Celgene Corp. FORMA is an innovative research and development organization in pursuit of ground-breaking medicines in oncology and other therapeutic areas. Celgene is a leader in addressing high unmet medical needs.

Under the terms of the agreement, FORMA and Celgene will discover, develop and commercialize drug candidates to regulate protein homeostasis targets. FORMA retains the rights to define its own research strategy and select drug targets, but it has the potential to receive $600 million in fees from Celgene — $225 million upfront for a 3½-year collaboration and up to $375 million more if Celgene signs on for two additional two-year collaborations. During the third collaboration term, Celgene could exercise its option to buy Forma and the US rights to all of its licensed drug programs.

In April 2013, Cooley also advised FORMA on its strategic collaboration deal with Celgene worth up to $945 million.

The Cooley team advising FORMA was led by partners Marc Recht and Kenneth Krisko and included special counsel Heather Harrington and associate Noelle Dubiansky. Partner Jeremy Naylor provided tax advice.

About Cooley LLP

Cooley's attorneys solve legal issues for entrepreneurs, investors, financial institutions and established companies. Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and bet-the-company litigation, often where innovation meets the law.

Cooley has more than 750 lawyers across 11 offices in the United States and China.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.