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Pharmaceuticals

Exelixis And BMS Advance Collaboration

by Rick Mullin
December 22, 2008 | APPEARED IN VOLUME 86, ISSUE 51

Exelixis, a South San Francisco-based biopharmaceutical firm, and Bristol-Myers Squibb have formed a drug development collaboration covering two Exelixis small molecules for cancer: XL184, a thyroid cancer therapy in Phase III clinical trials, and XL281, a treatment for advanced solid tumors in Phase I trials. Under the agreement, BMS will pay Exelixis $195 million up front for rights to both programs and make additional license payments of $45 million in 2009. The companies have collaborated for nearly a decade.

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