ROCHE: A Heavy Weight to give Substance to your Portfolio
waldron - Wed, 03 Jan 07 :
Roche Ag Genentech, Exelixis sign cancer R&D agreement
ZURICH (AFX) - Genentech Inc, in which Roche Holding AG holds a majority
stake, said it reached a worldwide agreement with Exelixis Inc on the worldwide
co-development of XL518, an MEK-inhibitor used in the treatment of tumours.
Under the terms of the agreement, Exelixis will receive up-front and
milestone payments of around 40 mln usd.
Exilixis will be responsible for Phase I development of the inhibitor and
will receive further payments should Genentech decide to further pursue the
drug's development.
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