Investors may have missed OncoMed Pharmaceuticals (NASDAQ:OMED) in the flurry of biotech IPOs this year, but last week's pop was more than enough to raise a few eyebrows. Shares soared more than 80% after the company announced a deal with big biotech Celgene (NASDAQ:CELG). In the following video, analysts Simon Erickson and Max Macaluso discuss the details of the deal, what it means for both OncoMed and Celgene, and whether partnerships like this will be a continuing trend in the biotech space.

Max Macaluso, Ph.D. owns shares of Celgene. Simon Erickson has no position in any stocks mentioned. The Motley Fool recommends Celgene. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.