Pharma BD Deal Intelligence

Celgene Corporation / Forma Therapeutics Holdings Inc.

2013 · Co-Development · $200M · Complete

Celgene's up-to-$200M bet let Forma run point on protein homeostasis drug discovery through Phase 1 before Celgene stepped in - a framework deal, not a single-asset buy, betting on a hot but still-unproven mechanism.

Outcome grade pending — assessed 5 years post-close.

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The coverage arc

Apr 25, 2013 Drug Development & Delivery Bullish

Describes the Forma-Celgene 'expansive alliance' in protein homeostasis, presenting the multi-year, milestone-rich partnership as a significant strategic…

Apr 25, 2013 FierceBiotech Bullish

FierceBiotech framed the 2013 deal as Celgene tapping Forma in 'the hot field of protein homeostasis,' situating it alongside validated proteasome (Velcade,…

Sep 21, 2017 BioPharma Dive Bullish

BioPharma Dive reported Celgene paying $195M to extend the Forma alliance through 2019, with continued option to acquire Forma — characterizing the high…

Source summaries from our enrichment pipeline; follow links for originals.

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Celgene-Forma initial collaboration to discover/develop small molecules targeting protein homeostasis; up to $200M in research and early development funding; Forma led through Phase 1, Celgene took over post.

Did it work? Outcome assessment

Strategic verdict
Partially Achieved
Financial impact
Neutral
Celgene committed up to $200M in research and early-development payments in 2013 for ex-US option rights, then expanded the partnership in 2014 with a ~$600M discovery deal tied to a Forma buyout option, and in 2017 paid ~$41M for two license agreements. Celgene ultimately declined to exercise the buyout, and Forma reacquired full rights to its programs and remained independent. No commercial product or revenue accrued to Celgene from the collaboration within the window.
Pipeline outcome
Mixed
The protein-homeostasis research programs advanced and the collaboration was expanded rather than terminated, but the highest-value assets (notably Forma's IDH/oncology programs, which yielded olutasidenib) reverted to Forma when Celgene declined the buyout option; Forma carried them forward independently after the window.

Key facts

Disease & market context

Oncology (protein homeostasis / proteostasis targets)

Disease Overview

Protein homeostasis (proteostasis) covers the cellular machinery — chaperones, the ubiquitin-proteasome system, autophagy, the unfolded protein response — that regulates protein synthesis, folding, and degradation. Cancer cells, with high proliferation rates and elevated mutational load, depend disproportionately on intact proteostasis, making the pathway a tractable target class.

Competitive Landscape

By 2013, proteostasis was an emerging oncology target class anchored by validated proteasome inhibitors — Takeda/Millennium's Velcade (bortezomib) and Amgen/Onyx's Kyprolis (carfilzomib, approved 2012) for multiple myeloma — plus HSP90 inhibitors in development at Synta, Infinity, and others. Forma's platform extended beyond proteasome/HSP90 into broader proteostasis pathways (chaperones, UPR, deubiquitinases, metabolic enzymes affecting protein stability) and provided Celgene a discovery-stage option to complement its Revlimid/Pomalyst myeloma franchise where proteostasis biology was clinically validated. The 2013 deal: undisclosed upfront, up to $200M in research and early development funding, with Forma running candidates through Phase 1 and Celgene taking over global development for licensed assets ex-US, plus $315M+ milestones per first license. The collaboration was expanded in 2014 to include a buyout option, signaling Celgene's escalating conviction. Forma later spun out non-Celgene programs and pursued sickle cell disease (etavopivat) — eventually acquired by Novo Nordisk in 2023 — though no Celgene-licensed asset reached approval prior to BMS's 2019 Celgene takeover.

Related deals — scored

DealYearValueOutcome
Celgene Corporation / Forma Therapeutics Holdings Inc. (this deal)2013$200M
Celgene Corporation / Bristol-Myers Squibb Company2015$2.0B85
Celgene Corporation / Agios Pharmaceuticals Inc.2010$130M83
Celgene Corporation / Bristol-Myers Squibb Company2018$9.0B68
Celgene Corporation / Abraxis BioScience Inc.2010$2.9B65
Celgene Corporation / Receptos Inc.2015$7.2B63
Celgene Corporation / Impact Biomedicines2018$7.0B54

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