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Exelixis signs exclusive licensing agreement with Ipsen.

M2 EQUITYBITES-March 2, 2016-Exelixis signs exclusive licensing agreement with Ipsen

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Exelixis, a genomics-based discovery company, has signed an exclusive licensing agreement with Ipsen, a France-based pharmaceutical company.

It was reported yesterday that the collaboration is aimed at the commercialisation and further development of cabozantinib, Exelixis' lead oncology drug. According to the contract, Ipsen will have exclusive commercialisation rights for present and potential future cabozantinib indications outside of the United States, Canada and Japan. This contract includes rights to COMETRIQ, which is presently approved in the European Union for the treatment of adult patients with progressive, unresectable, locally advanced or metastatic medullary thyroid cancer. Both firms have agreed to collaborate on the development of cabozantinib for current and potential future indications. Exelixis will maintain exclusive commercial rights for cabozantinib in the United States and Canada, and continue its discussions to partner commercial rights in Japan.

Under the contract, Exelixis will receive an USD200m upfront payment. Exelixis is eligible to receive regulatory milestones, including USD60m upon the approval of cabozantinib in Europe for advanced renal cell carcinoma, and USD50m upon the filing and approval of cabozantinib in Europe for advanced hepatocellular carcinoma and additional regulatory milestones for potential further indications. The agreement also includes up to USD545m of potential commercial milestones and provides for Exelixis to receive tiered royalties up to 26% on Ipsen's net sales of cabozantinib in its territories.

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Publication:M2 EquityBites (EQB)
Date:Mar 2, 2016
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