Ipsen Pays Exelixis $200m Up Front For Ex-US Cometriq Rights

Exelixis Inc. will bring in $260m in up front and milestone payments in 2016 alone under its new partnership with Ipsen for ex-US development and commercialization of Cometriq (cabozantinib), while the company awaits both US and EU approvals of the drug for a form of kidney cancer.

Exelixis Inc. will bring in $260m in up front and milestone payments in 2016 alone under its new partnership with Ipsen for ex-US development and commercialization of Cometriq (cabozantinib), while the company awaits both US and EU approvals of the drug for a form of kidney cancer.

Ipsen agreed to pay $200m up front for the rights to Cometriq outside of the US, Canada and Japan plus various milestone fees, including $60m upon EU approval expected later this year to treat advanced renal cell carcinoma (RCC), and double-digit royalties

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