GSK elects not to exercise XL784 option
UK drug major GlaxoSmithKline has decided not to exercise its option to license the candidate diabetic nephropathy drug XL784 from US biotechnology firm Exelixis, following the compound's failure to achieve primary efficacy endpoints in a Phase II study.
Exelixis said that said that, while it has no plans to invest further in XL784's development, it will begin seeking a partner with which to take the compound forward.
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