Exelixis & Iconic Therapeutics ink exclusive license and option deal
Category: #health  By Mateen Dalal  Date: 2019-05-18
  • share
  • Twitter
  • Facebook
  • LinkedIn

Exelixis & Iconic Therapeutics ink exclusive license and option deal
  • The exclusive license & option agreement has been signed for a new Antibody-Drug conjugate program.
     
  • The program, named ICON-2, specifically targets Tissue Factor and would have a potential broad impact on oncology.

Exelixis, Inc., (Exelixis), a Californian genomics-based drug discovery firm, has reportedly signed an exclusive license & option agreement with a San Francisco-based clinical-stage biopharmaceutical firm, Iconic Therapeutics (Iconic).

Reports cite, the exclusive license & option agreement has been signed for a new Antibody-Drug conjugate program. The program, named ICON-2, specifically targets Tissue Factor and would have a potential broad impact on oncology.

According to a press release by Exelixis, the collaboration reflects on the company’s current strategy of building a pipeline that goes beyond its own lead product CABOMETYX, through external business development & internal drug discovery both.

The new deal with Iconic is Exelixis’ second strategic partnership that focuses on new biologics, following its collaboration with Invenra, Inc., which was announced in May of 2018. However, the exclusive deal is Iconic’s first strategic partnership in oncology & leverages its expertise in the innovative Tissue-Factor antibody.

Under the terms of the agreement, Exelixis would be gaining exclusive option to license the ICON-2 program in exchange for a $7.5 million upfront payment option to Iconic and a preclinical development funding commitment. Moreover, Exelixis could also exercise its option by making an option exercise payment to take over responsibilities of all subsequent commercialization & clinical development activities at the time of the potential Investigational New Drug (IND) application.

The Executive Vice President & Chief Scientific Officer at Exelixis, Peter Lamb, Ph.D., stated that Iconic is pursuing a highly innovative way to target Tissue Factor, which is a promising target with early clinical validation as well as a potential applicability across an array of different cancers. Dr. Lamb further added that the deal provides Exelixis an attractive entryway to the antibody-drug conjugate domain.

According to reports, the exact amount of the option exercise payment has not been unveiled by any of the involved parties yet.

 

Source Credit:  https://finance.yahoo.com/news/exelixis-iconic-therapeutics-enter-exclusive-120000994.html

http://ir.exelixis.com/news-releases/news-release-details/exelixis-and-iconic-therapeutics-enter-exclusive-option-and

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Ather Energy raises $250 million to stay ahead in competition
Ather Energy raises $250 million to stay ahead in competition
By Mateen Dalal

Electric scooter producer Ather Energy has reportedly secured $250 million in a new funding round. As per reports, the investment round is in its early stages. The company’s goal is to obtain $200 million to $250 million to compete in the EV...

Digital wellness startup Mojorcare bags USD 20 Mn in Series A funding
Digital wellness startup Mojorcare bags USD 20 Mn in Series A funding
By Mateen Dalal

Mojocare, a wellness and health startup has reportedly raised USD 20.6 million in a Series A round of funding which was led by B Capital Group and saw participation from existing investors including Sequoia India’s Surge, Better Capital, and Ch...

Exponent Energy bags USD 13 million in Lightspeed-led Series A funding
Exponent Energy bags USD 13 million in Lightspeed-led Series A funding
By Mateen Dalal

Bangalore-based Exponent Energy has reportedly secured USD 13 million in a Series A funding round which was spearheaded by Lightspeed Venture Partners. The round also saw participation from existing investors such as 3one4 Capital, YourNest VC, and A...