GSK decides not to license Exelixis' XL184
UK drug major GlaxoSmithKline says it will not exercise its option to license Exelixis' XL184 nor any of the earlier compounds in the series, ending their six-year alliance. If the world's number two drugmaker had selected the small-molecule anticancer drug, Exelixis would have received a $55.0-million milestone creditable by GSK against an outstanding loan, as well as other milestones, royalties and co-promotion rights in North America.
Exelixis now retains the rights to all of the un-optioned compounds, subject to a 3% royalty payment for XL184 to GSK, which will continue to develop the main product from the accord XL880, with further potential milestones of up to $90.0 million and double-digit royalties to Exelixis.
"We are pleased to retain the rights to develop and commercialize XL184," said George Scangos, chief executive of Exelixis. "It has generated compelling data in patients with medullary thyroid cancer, and data emerging from the Phase II trial being conducted in patients with glioblastoma also are encouraging," he added.
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