Business
Exelixis and Invenra Expand Collaboration to Discover and Develop Novel Biologics in Oncology
– Expanded collaboration to include an additional 20 targets for multi-specific antibody, antibody-drug conjugate, and other biologic candidate discovery and
About this update from Exelixis, Inc.
[{"type":"text","content":"\n– Expanded collaboration to include an additional 20 targets for multi-specific antibody, antibody-drug conjugate, and other biologic candidate discovery and development –\n\n ALAMEDA, Calif. & MADISON, Wis.--(BUSINESS WIRE)--\nExelixis, Inc. (Nasdaq: EXEL) and Invenra, Inc. today announced that they have expanded their discovery and licensing collaboration to include an additional 20 oncology targets. The augmented partnership builds on the two companies’ ongoing collaboration and license agreement to discover and develop mono-specific and multi-specific antibodies for incorporation into novel biologics to treat cancer, which was originally announced in May 2018 and expanded in October 2019.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210816005189/en/\n“We’re very pleased with the successful relationship we’ve had with Invenra to-date and look forward to expanding our existing collaboration to include additional oncology targets,” said Peter Lamb, Ph.D., Executive Vice President, Scientific Strategy and Chief Scientific Officer of Exelixis. “As Exelixis seeks to build a differentiated next-generation pipeline in oncology, we’re leveraging Invenra’s expertise in antibody and bispecific discovery to provide key building blocks for potential future Exelixis biologics, including antibody-drug conjugates. Our expanded collaboration with Invenra accelerates and deepens our work together and furthers Exelixis’ mission to pursue cancer therapies that help patients live longer and recover stronger.”\n\nUnder the terms of this newly expanded collaboration, Exelixis has agreed to pay Invenra an upfront fee of $15.0 million, as well as additional fees and funding for the option to nominate up to 20 additional targets in oncology. Invenra will be eligible for development, regulatory, and commercial milestones, as well as tiered royalties on net sales of any approved products. Exelixis will own all antibody sequences discovered from the collaboration for all therapeutic uses in oncology and any other disease areas. The expanded collaboration also provides Exelixis with an option to obtain development and commercialization rights to certain of Invenra’s future internal pipeline programs, in exchange for an opt-in fee.\n\n“We believe the continued success of our collaboration ...