Tiny Inhibrx signs '$500 million' preclinical antibody outlicensing deal with Celgene

An eight-person biotechnology firm in San Diego called Inhibrx has entered into an option and license agreement with Celgene worth up to $500 million in upfront and milestone payments plus royalties. The deal centres around a preclinical antibody asset, but neither party has disclosed which antibody or its target or the disease it might address.

Celgene president of research and early development Tom Daniel only said: "Inhibrx has developed an antibody with strong preclinical study results on a highly validated target with very promising therapeutic potential