ARIAD and Bellicum Announce Revised License Agreement for ARIAD’s Cell-Signaling Technology
October 06 2014 - 7:35AM
Business Wire
ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA) and Bellicum
Pharmaceuticals, Inc. today announced a restructuring of their
license agreement for ARIAD’s cell-signaling technology. ARIAD will
receive $50 million in exchange for a fully paid up license to this
technology and return of its equity stake in closely held Bellicum.
The scope of the license and the field of use were also expanded as
part of the amendment.
Under the terms of the revised agreement, ARIAD will receive $50
million in three installments: $15 million upon signing of the
agreement, $20 million by June 30, 2015, and $15 million by June
30, 2016. The last payment may be accelerated to the fourth quarter
of 2015 under certain circumstances. The restructured agreement
gives Bellicum a worldwide exclusive license to ARIAD’s
cell-signaling technology for broad use in human cell therapies for
all diseases on a royalty- and milestone-free basis.
ARIAD’s technology involves the use of a small-molecule drug,
such as AP1903, to activate cell signaling and other cellular
events. Bellicum is developing controllable stem-cell transplant,
chimeric-antigen receptor (CAR) T cell and cancer vaccine product
candidates in a variety of blood and solid tumor cancers and in
non-malignant genetic diseases.
“This license restructuring allows Bellicum to fully exploit our
specialized cell signaling switches and related platforms, free of
future royalty or milestone obligations to ARIAD,” stated Tom
Farrell, Bellicum’s chief executive officer. “The expanded license
also includes additional cell-signaling technology that may enable
future products with dual control switches.”
“The amended agreement with Bellicum allows ARIAD to realize
substantial non-dilutive funding from our legacy program based on
small-molecule regulation of cell signaling, while maintaining our
strategic focus on bringing breakthrough medicines to cancer
patients in need,” said Harvey J. Berger, M.D., chairman and chief
executive officer of ARIAD.
Outside the Bellicum field of use, ARIAD has also licensed
certain aspects of the technology to REGENXBIO, Inc., and Clontech
Laboratories, Inc. These license agreements remain unchanged.
About Bellicum Pharmaceuticals
Bellicum is developing safer and more effective cell therapies
to treat cancers and other chronic and life-threatening diseases.
The Company’s proprietary cell-based therapies incorporate either
the CaspaCIDe® self-destruct switch to enable the rapid elimination
of cell treatments that become toxic, or the DeCIDe® activation
switch for controlled activation of dendritic cells to improve
efficacy and safety. Cells engineered with either CaspaCIDe or
DeCIDe are activated via infusion with the small-molecule drug
AP1903. Bellicum is advancing clinical programs in cellular
transplants to reduce or eliminate graft vs. host disease, and in
prostate cancer with a potentially more potent immunotherapy. The
Company’s product discovery group is also working on novel
technologies for controlled expansion and activation of other cell
types, including CAR T cells, TCRs and TILs. For more information,
please visit www.bellicum.com.
About ARIAD
ARIAD Pharmaceuticals, Inc., headquartered in Cambridge,
Massachusetts and Lausanne, Switzerland, is an integrated global
oncology company focused on transforming the lives of cancer
patients with breakthrough medicines. ARIAD is working on new
medicines to advance the treatment of various forms of chronic and
acute leukemia, lung cancer and other difficult-to-treat cancers.
ARIAD utilizes computational and structural approaches to design
small-molecule drugs that overcome resistance to existing cancer
medicines. For additional information, visit
http://www.ariad.com or follow ARIAD on Twitter
(@ARIADPharm).
This press release contains “forward-looking statements”
including, but not limited to, statements relating to future
payment obligations, ARIAD and Bellicum cell-signaling
technologies, and the development of future products.
Forward-looking statements are based on management's expectations
and are subject to certain factors, risks and uncertainties that
may cause actual results, outcome of events, timing and performance
to differ materially from those expressed or implied by such
statements. These risks and uncertainties include, but are not
limited to, preclinical data and early-stage clinical data that may
not be replicated in later-stage clinical studies, and other
factors detailed in ARIAD's public filings with the U.S. Securities
and Exchange Commission. The information contained in this press
release is believed to be current as of the date of original issue.
After the date of this document, neither ARIAD nor Bellicum intends
to update any of the forward-looking statements to conform to
actual results or to changes in their expectations, except as
required by law.
Photos/Multimedia Gallery Available:
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For ARIAD InvestorsKendra Adams,
617-503-7028Kendra.adams@ariad.comorFor ARIAD MediaLiza
Heapes, 617-621-2315Liza.heapes@ariad.comorFor Bellicum
InvestorsPeter Rahmer,
646-378-2973prahmer@troutgroup.comorFor Bellicum MediaBrad
Miles, 646-513-3125bmiles@bmccommunications.com
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