Wyeth signs with Progenics and Exelixis | Chemical & Engineering News
Volume 84 Issue 1 | p. 12 | Concentrates
Issue Date: January 2, 2006

Wyeth signs with Progenics and Exelixis

Department: Business

Wyeth has agreed to jointly develop Progenics Pharmaceuticals' methylnaltrexone for the treatment of opioid-induced side effects. In exchange for worldwide rights to the drug, Wyeth is paying Progenics $60 million up front and as much as $356.5 million in additional milestone payments. Separately, Wyeth has signed a licensing agreement with Exelixis under which it will assume responsibility for Exelixis compounds targeting the farnesoid X receptor, a nuclear hormone receptor implicated in metabolic and liver disorders. Exelixis will get $10 million up front and may receive up to $147.5 million more in milestone payments.

 
Chemical & Engineering News
ISSN 0009-2347
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