Therapy Areas: Oncology
Exelixis and BioInvent collaborate to develop new immuno-oncology therapies
16 June 2022 -

US biotechnology company Exelixis Inc (Nasdaq:EXEL) and Swedish-based BioInvent International AB (STO:BINV) announced on Thursday an exclusive option and licence agreement to develop novel antibody-based immuno-oncology therapies.

Focusing on the identification and development of novel antibodies for use in IO therapeutics, this collaboration combines BioInvent's cancer immunology and antibody biology expertise with Exelixis' expertise and resources in antibody engineering and antibody-drug conjugate (ADC) technologies.

Target and antibody discovery will be performed using BioInvent's proprietary n-CoDeR antibody library and F.I.R.S.T screening platform, which together allow for parallel target and antibody discovery.

Under the terms of the agreement, Exelixis will pay BioInvent an upfront fee of USD25m in exchange for rights to select three targets identified using the F.I.R.S.T platform and n-CoDeR library. BioInvent will be responsible for initial target and antibody discovery activities, and characterisation of antibody mechanism of action.

Exelixis will have the right to exercise an option to in-license any of the target programmes upon identification of a development candidate directed to that target. Upon option exercise, Exelixis will pay BioInvent an option exercise fee and will assume responsibility for all future development and commercialisation activities for the development candidate, including potential ADC and bispecific antibody engineering activities. In addition, BioInvent will be eligible for success-based development and commercialisation milestones, as well as tiered royalties on the annual net sales of any products that are successfully commercialised under the collaboration.