Exelixis in license pact with WuXi to grow oncology biologics pipeline

 Exelixis, Inc. (Nasdaq: EXEL) and WuXi Biologics (“WuXi Bio”) (2269.HK) today announced the companies have entered into an exclusive license agreement to support the continued expansion of Exelixis’ oncology biologics pipeline. The agreement is the latest in a series of biologics-focused transactions for Exelixis as the company builds out its pipeline behind CABOMETYX® (cabozantinib), its flagship product and global oncology franchise, which received its fourth approval from the U.S. Food and Drug Administration in January.

Under the terms of the agreement, Exelixis will make a modest upfront payment to WuXi Bio in exchange for an exclusive license to a panel of monoclonal antibodies to a preclinically validated target, discovered based on WuXi Bio’s integrated technology platforms, for the development of antibody-drug conjugate, bispecific, and certain other novel tumor-targeting biologics applications. WuXi Bio will be eligible for development and commercialization milestones, as well as tiered royalties on net sales of any potential products commercialized from the panel.

https://www.businesswire.com/news/home/20210308005465/en/Exelixis-Enters-into-Exclusive-License-Agreement-with-WuXi-Biologics-to-Support-Further-Expansion-of-its-Growing-Oncology-Biologics-Pipeline