Bristol-Myers Squibb and Exelixis enter collaboration

Bristol-Myers Squibb and Elelixis have entered a global collaboration, covering two novel cancer programmes.

The partnership will see the joint development programmes of Exelixis’ XL184 amd XL281.

Under the terms of the collaboration, Bristol-Myers Squibb will pay its partner $195 million (130 million pounds) for the development and commercialisation rights of both projects.

An additional license payment of $45 million is expected to take place next year.

Elliott Sigal, executive vice-president, chief scientific officer and president of research and development at Bristol-Myers Squibb, said the molecules represent “significant new opportunities” to stop or slow down the progression of tumours.

He continued: “Together with Exelixis, we intend to fully explore how these compounds can potentially extend the treatment options of patients with cancer.

“This new collaboration maximises the capabilities and strengths of each partner.”

XL184 is for the treatment of solid tumours, in an attempt to dysregulate tumour growth and progression, with XL281 – a novel small molecule – also hoped to be used in the treatment of cancer.

Last week, Bristol-Myers Squibb and AstraZeneca announced an expansion of their partnership to develop and commercialise Dapagliflozin.

Bristol-Myers Squibb employs 41,000 people and has global sales of $19.3 billion.