Exelixis continues to look beyond Cabometyx for future growth
Exelixis (Nasdaq: EXEL) has inked an exclusive option and license agreement with fellow Californian firm Iconic Therapeutics, a venture-backed company focused on cancer and retinal diseases.
The deal is focused on the advancement of an innovative next-generation antibody-drug conjugate (ADC) program for cancer.
Exelixis says the deal is a reflection of its strategy to try to build a pipeline beyond its lead product, Cabometyx (cabozantinib), through both internal drug discovery and external business development.
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