Exelixis and B-MS to develop XL139 for solid tumor cancer indications
California-based biotechnology firm Exelixis says that US drug major Bristol-Myers Squibb has exercised an option to develop and commericalize the candidate anticancer drug XL139. Under the terms of the firms' agreement, which was established early last year (Markletter January 1 & 8, 2007), B-MS will pay $20.0 million for the transfer of the XL139 program, and will be responsible for leading all future development activities undertaken during the collaboration.
Confirmation of B-MS' interest is good news for Exelixis, which just a few days earlier, learnt that UK-based drug major GlaxoSmithKline had decided not to exercise its option to license XL784, the San Francisco-headquartered firm's candidate diabetic nephropathy treatment (see page 22).
Hedgehog signalling pathway
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