Merck buys in Exelixis' PI3K-Delta program; returns product to Acumen
California-based Exelixis (Nasdaq: EXEL) says it has granted US drug giant Merck & Co (NYSE: MRK) an exclusive worldwide license to its PI3K-delta R&D program, including XL499, the company’s most advanced preclinical PI3K-delta inhibitor and other related compounds. Under the agreement, Merck will have a worldwide exclusive license and have sole responsibility to research, develop, and commercialize compounds originating from the program.
Merck will make an upfront payment of $12 million to Exelixis, which will be eligible for potential development and regulatory milestone payments for multiple indications of up to $239 million. Exelixis will also be eligible for potential combined sales performance milestones and royalties on net-sales of products emerging from the agreement. Milestones and royalties are payable on compounds emerging from Exelixis’ PI3K-delta program or from certain compounds that arise from Merck’s internal discovery efforts targeting PI3K-delta during a certain period.
PI3K-delta targets inflammatory and oncology
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