Biopharmaceutical company Ipsen (Euronext Paris:IPN) (ADR:IPSEY) announced on Tuesday an expanded collaboration and licence agreement with biotech company Exelixis Inc (NASDAQ:EXEL) to develop Cabometyx (cabozantinib) for pancreatic and extra-pancreatic neuroendocrine tumors (pNETs and epNETs) outside the US and Japan.

The deal follows positive results from the CABINET Phase III trial, which showed that Cabometyx improved progression-free survival compared to placebo in patients with advanced pNETs and epNETs.

Ipsen plans to seek marketing authorisation for Cabometyx in this indication in the European Union.