VentiRx announces collaboration with Celgene for VTX-2337 development

VentiRx Pharmaceuticals announced the formation of an exclusive, world-wide collaboration with Celgene for the development of VTX-2337, a highly potent and selective TLR8 agonist for the treatment of cancer. As part of the strategic agreement, Celgene will retain the exclusive option to acquire VentiRx. Under terms of the agreement, Celgene will provide a $35M upfront payment to fund further research and development of VTX-2337 through pre-defined clinical endpoints. During the option period, VentiRx will be eligible to receive additional funding, including a potential equity investment by Celgene.

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