Exelixis to collaborate with Genentech

Exelixis has inked a deal to collaborate with Genentech on new therapies for cancer, inflammatory diseases and tissue growth and repair. In the deal, Genentech has agreed to provide an unspecified upfront payment, three years of research support and milestones for the successful development of any new therapeutics.

"We have developed a set of assets, including know-how, biological insights and intellectual property which we believe has substantial potential as antibody targets," said George A. Scangos, PhD, president and CEO of Exelixis. "While Exelixis continues to focus on the development of small molecules for cancer, this collaboration allows us to access Genentech's resources and expertise in antibody development that we do not have internally. We are extremely pleased that Genentech will work with us to generate antibodies for the specific proteins that are part of the collaboration."

- read this press release for more