BioInvent regains rights to immuno-oncology targets from Exelixis
After an initial dip, BioInvent International (Nasdaq Stockholm: BINV) saw its shares close up 1.2% at 17.22 kronor today, when the Swedish biotech revealed that a licensing partner was pulling out of their agreement.
BioInvent said it has received a notice of termination from US biotech company Exelixis (Nasdaq: EXEL) for the option and license agreement for novel antibodies for use in immuno-oncology therapeutics.
It follows a recently announced corporate restructuring program within Exelixis, prioritizing its pipeline of clinical and near-clinical programs. As a result, BioInvent regains the full rights to all targets and resulting candidates developed under the collaboration.
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