- Companies will partner to develop novel
antibody-drug conjugates using NBE’s unique ADC platform -
- Agreement encompasses an exclusive option
on multiple targets over a two-year term, with potential to extend
time and scope of the collaboration -
- Deal is the fourth biologics-focused
agreement for Exelixis since 2018 -
Exelixis, Inc. (Nasdaq: EXEL) and NBE-Therapeutics today
announced a partnership to discover and develop multiple
antibody-drug conjugates (ADCs) for oncology applications by
leveraging NBE’s unique expertise and proprietary platforms in ADC
discovery, including site-specific conjugation and novel payloads.
The agreement comes as Exelixis continues to build out its pipeline
behind CABOMETYX® (cabozantinib), its flagship product that is now
a global oncology franchise.
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Under the terms of the agreement, Exelixis will make an upfront
payment of $25 million to NBE in exchange for an exclusive option
to nominate a defined number of target programs on NBE’s ADC
platform over a two-year period. Together, the companies will seek
to advance multiple ADCs into preclinical development with Exelixis
contributing research and development support. For each individual
target program, prior to filing an Investigational New Drug
application, Exelixis will be able to exercise its option to an
exclusive worldwide license, and afterwards continue clinical
development and commercialization activities for that target
program. Upon exercise of any option, NBE will be eligible for
development and commercialization milestones, as well as royalties
on net sales of any potential products resulting from that target
program.
“Exelixis is pursuing both internal drug discovery and external
business development approaches to build a pipeline with the
potential to make a difference for patients with cancer,” said
Peter Lamb, Ph.D., Executive Vice President, Scientific Strategy
and Chief Scientific Officer of Exelixis. “NBE-Therapeutics’ ADC
technologies for conjugation and its novel anthracycline-based
payload platform make it a strong partner for Exelixis as we seek
to improve on conventional antibody-drug conjugate approaches.
We’re looking forward to working together with NBE and benefiting
from the company’s expertise and technology as we bring forth the
next generation of Exelixis medicines.”
“NBE-Therapeutics’ technology platforms give drug developers the
potential to advance best-in-class antibody-drug conjugates against
multiple targets,” said Bertrand Damour, Chief Executive Officer of
NBE-Therapeutics. “We’re excited to work with Exelixis, which
through CABOMETYX has attained a reputation for data-driven,
effective clinical development and commercialization, as the
company broadens its opportunities in biologics to effectively
fight cancer.”
NBE was founded with the vision of developing next-generation,
best-in-class ADCs targeting solid tumors as well as hematological
malignancies. NBE’s platform improves upon older ADC platforms by
delivering highly homogenous, stable and potent ADCs with
immune-stimulatory function and potential for improved therapeutic
index in multiple cancer indications. The company’s technologies
are used throughout the ADC discovery process, including
Transpo-mAb™ Display for antibody discovery and SMAC-Technology™
for site-specific conjugation and ADC manufacture. NBE has also
developed a proprietary PNU-anthracycline based, DNA-targeting
toxin platform that yields highly potent and immune-stimulatory
ADCs (iADCs™).
About NBE-Therapeutics
NBE-Therapeutics is a privately-owned Swiss biotech company
based in Basel and founded in 2012 with the vision of developing
next-generation immune-stimulatory antibody drug conjugate (iADC™)
products. NBE advances its products to clinical proof of concept
with the goal of improving treatment options for cancer
patients.
The company leverages proprietary platforms covering all aspects
of ADC development: its Transpo-mAb Display™ technology for
antibody discovery, its SMAC-Technology™ for site-specific payload
conjugation of toxins to antibodies and a novel highly effective
and immune-stimulatory anthracycline-based toxin platform. The
company is financially backed by the Boehringer Ingelheim Venture
Fund (D), the PPF Group (CZ) and Novo Holdings (DK) as
institutional investors, and by additional Swiss, German and Dutch
private investors. For more information about NBE visit the website
www.nbe-therapeutics.com.
About Exelixis
Founded in 1994, Exelixis, Inc. is a commercially successful,
oncology-focused biotechnology company that strives to accelerate
the discovery, development and commercialization of new medicines
for difficult-to-treat cancers. Following early work in model
system genetics, we established a broad drug discovery and
development platform that has served as the foundation for our
continued efforts to bring new cancer therapies to patients in
need. Our discovery efforts have resulted in four commercially
available products, CABOMETYX® (cabozantinib), COMETRIQ®
(cabozantinib), COTELLIC® (cobimetinib) and MINNEBRO®
(esaxerenone), and we have entered into partnerships with leading
pharmaceutical companies to bring these important medicines to
patients worldwide. Supported by revenues from our marketed
products and collaborations, we are committed to prudently
reinvesting in our business to maximize the potential of our
pipeline. We are supplementing our existing therapeutic assets with
targeted business development activities and internal drug
discovery — all to deliver the next generation of Exelixis
medicines and help patients recover stronger and live longer.
Exelixis is a member of the Standard & Poor’s (S&P) MidCap
400 index, which measures the performance of profitable mid-sized
companies. For more information about Exelixis, please visit
www.exelixis.com, follow @ExelixisInc on Twitter or like Exelixis,
Inc. on Facebook.
Exelixis Forward-Looking Statements
This press release contains forward-looking statements,
including, without limitation, statements related to: Exelixis’
strategy to build a pipeline beyond its flagship product,
CABOMETYX; Exelixis’ immediate and potential future financial and
other obligations under the collaboration and license option
agreement with NBE; the potential for the collaboration with NBE to
improve on conventional ADC approaches and advance Exelixis’ plans
to bring forth the next generation of Exelixis’ medicines; and
Exelixis’ plans to reinvest in its business to maximize the
potential of the company’s pipeline, including through targeted
business development activities and internal drug discovery. Any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements and are based upon Exelixis’ current
plans, assumptions, beliefs, expectations, estimates and
projections. Forward-looking statements involve risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements
as a result of these risks and uncertainties, which include,
without limitation: the level of costs associated with Exelixis’
commercialization, research and development, in-licensing or
acquisition of product candidates, and other activities;
uncertainties inherent in the drug discovery and product
development process; Exelixis’ dependence on its relationship with
NBE, including NBE’s adherence to its obligations under the
collaboration and license option agreement and the level of NBE’s
assistance to Exelixis in completing clinical trials, pursuing
regulatory approvals or successfully commercializing partnered
compounds in the territories where they may be approved; the
continuing COVID-19 pandemic and its impact on Exelixis’ research
and development and commercial activities; risks and uncertainties
related to regulatory review and approval processes and Exelixis’
compliance with applicable legal and regulatory requirements;
Exelixis’ and NBE’s ability to protect their respective
intellectual property rights; market competition; changes in
economic and business conditions; and other factors discussed under
the caption “Risk Factors” in Exelixis’ Quarterly Report on Form
10-Q filed with the Securities and Exchange Commission (SEC) on
August 6, 2020, and in Exelixis’ future filings with the SEC. All
forward-looking statements in this press release are based on
information available to Exelixis as of the date of this press
release, and Exelixis undertakes no obligation to update or revise
any forward-looking statements contained herein, except as required
by law.
Exelixis, the Exelixis logo, CABOMETYX,
COMETRIQ and COTELLIC are registered U.S. trademarks. MINNEBRO is a
Japanese trademark.
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version on businesswire.com: https://www.businesswire.com/news/home/20200908005562/en/
Exelixis Investors Contact: Susan Hubbard Executive Vice
President, Public Affairs & Investor Relations (650) 837-8194
shubbard@exelixis.com
Media Contact: Hal Mackins For Exelixis, Inc. (415)
994-0040 hal@torchcommunications.com
NBE-Therapeutics Media Contact: Optimum Strategic
Communications Mary Clark, Manel Mateus, Elakiya Rangarajah +44 (0)
20 3922 0900 NBE-Therapeutics@optimumcomms.com
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