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MethylGene Opts for Royalties/Milestones in Celgene Pact

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By: Tim Wright

Editor-in-Chief, Contract Pharma

MethylGene, Inc. has exercised its right to convert to a royalty and milestone arrangement with Celgene Corp. for MGCD0103 under the 2006 license and collaboration agreement between the companies.     MethylGene will no longer be responsible for development costs for the drug. Celgene will assume all program costs for its licensed territories. MethylGene will receive royalties in lieu of profit sharing in North America and is eligible to receive milestone payments of as much as $141 million. ...

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