Blueline Bioscience, a Canada-based biotech incubator launched by venture capital firm Versant Ventures in September 2013, has entered into a collaboration with US-based pharmaceutical company Celgene Corporation.
Upon launch of new enterprises by Blueline Bioscience in areas of joint strategic interest such as oncology and inflammation, an affiliate of Celgene Corporation will have certain option rights through the collaboration.
Stefan Larson, president of Blueline Bioscience and an entrepreneur-in-residence with Versant Ventures, said: “With the collaboration and option agreement now signed with Celgene, Blueline Bioscience is uniquely positioned in the life sciences community in Ontario.”
Brad Bolzon, managing director at Versant Ventures, said: “Blueline Bioscience represents one of Versant’s approaches to launching early-stage biotechnology companies in Canada. We are very encouraged by the progress of the Blueline Bioscience team in identifying promising academic programs and launching such a strong collaboration.”