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Exelixis Adds Insilico Deal In Search Of Growth Beyond Cabometyx

Company Rides Out Challenge From Activist Investor

 
• By Andrew McConaghie

After feeling the heat from activist investor Farallon Capital Management earlier this year, CEO Michael Morrissey has defended its spending on in-house R&D and in-licensing as it announced a new oncology deal.

Exelixis

Exelixis has licensed the rights to ISM3091, a novel cancer treatment from AI-based drug discovery company Insilico Medicine, as it looks to find new growth drivers beyond its blockbuster Cabometyx.

Cabometyx (cabozantinib, also available in capsule form as Cometriq) is set to hit revenues of $1.8bn this year from its use in renal cell carcinoma (RCC) liver and thyroid cancer,...

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