Celgene has paid existing partner Agios Pharmaceuticals US$200 M upfront in return for opt-in rights to co-develop and co-commercialise therapies based on Agios’ cellular metabolism research platform. The two companies have also reworked the terms of their 2010 cancer metabolism collaboration, with Celgene returning ex-US rights to AG-120, which is expected to enter Phase III development for front-line acute myeloid leukaemia later in 2016. The new deal represents another high-risk, potentially high-reward move by Celgene in the highly competitive immuno-oncology field.