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Celgene ([[CELG]] -0.7%) enters into a strategic collaboration and will make a $100M upfront cash payment for an exclusive option giving it the right to buy Acetylon Pharmaceuticals - a developer of small molecule drugs that target epigenetic mechanisms for the treatment of cancer and other critical human diseases.Acetylon will retain control of its drug development program during the option period.If Celgene exercises its option, an upfront payment with a minimum floor of $500M, will be paid at closing.Additionally, Acetylon shareholders will be eligible to receive potential future milestone payments totaling up to $1.1B depending upon certain targets.

  • Celgene (CELG -0.7%) enters into a strategic collaboration and will make a $100M upfront cash payment for an exclusive option giving it the right to buy Acetylon Pharmaceuticals - a developer of small molecule drugs that target epigenetic mechanisms for the treatment of cancer and other critical human diseases.
  • Acetylon will retain control of its drug development program during the option period.
  • If Celgene exercises its option, an upfront payment with a minimum floor of $500M, will be paid at closing.
  • Additionally, Acetylon shareholders will be eligible to receive potential future milestone payments totaling up to $1.1B depending upon certain targets.
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