Celgene Corp. will not exercise its option to license cancer drug candidate rosmantuzumab from OncoMed Pharmaceuticals Inc.
OncoMed, in a regulatory filing, said Celgene terminated their collaboration agreement with respect to rosmantuzumab, effective Feb. 12, 2019. The decision comes after rosmantuzumab failed to provide compelling evidence of clinical benefit in an early stage clinical trial in patients with solid tumors.
Celgene recently decided against licensing ovarian cancer drug navicixizumab from Redwood City, Calif.-based OncoMed, similarly due to a lack of clinically proven benefit.
The Summit, N.J.-based biopharmaceutical company still has an option to license another anti-cancer stem cell therapy candidate from OncoMed, called etigilimab.