Therapy Areas: Oncology
Exelixis and BioInvent Establish Exclusive Option and License Agreement to Develop Novel Antibody-Based Immuno-Oncology Therapies
17 June 2022 - - US-based oncology-focused biotechnology company Exelixis, Inc. (NASDAQ: EXEL) and Swedish biotechnology company BioInvent International AB (NASDAQ Stockholm: BINV) have entered into an option and license agreement focused on the identification and development of novel antibodies for use in IO therapeutics, the companies said.

The collaboration is intended to expand Exelixis' portfolio of antibody-based therapies and will combine BioInvent's cancer immunology and antibody biology expertise with Exelixis' expertise and resources in antibody engineering and antibody-drug conjugate technologies, and proven history of developing and commercializing oncology therapeutics.

Target and antibody discovery will be performed using BioInvent's proprietary n-CoDeR antibody library and patient-centric 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 USD 25m in exchange for rights to select three targets identified using BioInvent's proprietary F.I.R.S.T platform and n-CoDeR library.

BioInvent will be responsible for initial target and antibody discovery activities, and characterization of antibody mechanism of action.

Exelixis will have the right to exercise an option to in-license any of the target programs 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 commercialization activities for the development candidate, including potential ADC and bispecific antibody engineering activities.

In addition, BioInvent will be eligible for success-based development and commercialization milestones, as well as tiered royalties on the annual net sales of any products that are successfully commercialized under the collaboration.

Founded in 1994, Exelixis, Inc. (NASDAQ: EXEL) is an oncology-focused biotechnology company that strives to accelerate the discovery, development and commercialization of new medicines for difficult-to-treat cancers.

BioInvent International AB (NASDAQ Stockholm: BINV) is a clinical-stage biotech company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapy, with currently three drug candidates in four ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors, respectively and a fifth program just initiating clinical development.