Breaking News From Pharma & Bio Ingredients
Exelixis and Birstol-Myers ink cancer drug deal
Posted on 2006-12-18 10:08:00
Exelixis has agreed to collaborate with Bristol-Myers on discovery, development and commercialization of cancer treatments. Under the collaboration, Exelixis will use its drug discovery platform and will identify and be responsible for pre-clinical development of small molecule drug candidates.
Bristol-Myers will have the right to select up to three Investigational New Drug (INDs) candidates against three different targets and will lead all global activities, although the parties will co-develop and co-commercialize the programs in the U.S. Bristol-Myers will pay to Exelixis an upfront payment of $60 million in cash, and Exelixis will also receive $20 million for each of up to three different drug candidates selected by Bristol-Myers.
Subscribe via RSS
