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Presage Biosciences Announces Strategic Research Alliance with Celgene Corporation
Date:3/5/2013

SEATTLE, March 5, 2013 /PRNewswire/ -- Presage Biosciences, a leader in discovering effective cancer drug combinations, today announced that it has entered into a strategic collaboration agreement with Celgene Corporation under which Presage and Celgene will take advantage of Presage's proprietary technology platform to identify novel drug combinations for solid tumor indications.

(Logo: http://photos.prnewswire.com/prnh/20130305/SF70691LOGO)

The Presage platform is the only technology that allows for the direct comparison of multiple drugs or drug combinations in the same living tumor. In addition to identifying combination treatments for cancer, the company ultimately intends to utilize its platform to precisely evaluate patients' unique responses to microdoses of multiple cancer drugs.

Under the terms of the agreement, Presage will receive an upfront payment, an equity investment, and will be eligible for downstream payments.

"Drug development is currently challenged by heavy reliance on in vitro test systems and animal xenografts of little relevance to individual patients," said Thomas Daniel , M.D. Celgene President, Research and Early Development. "The Presage platform addresses this challenge, permitting rapid assessment of drug candidates and combinations in relevant models, with potential to base critical drug development decisions on in vivo response data."

"Celgene is an ideal strategic partner for Presage. The two companies are well aligned in focusing on original approaches to cancer drug discovery," said Nathan Caffo , President of Presage Biosciences. "The innovative structure of this research collaboration will enable us to continue our plan to expand the application of the Presage platform, which offers fundamental insights into novel cancer drug combina
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SOURCE Presage Biosciences
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