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Home » Ipsen Acquires Rights to Exelixis Drug for Up to $855M
Ipsen Acquires Rights to Exelixis Drug for Up to $855M
March 8, 2016
Paris-based Ipsen has acquired the rights to Exelixis’ oncology drug cabozantinib for up to $855 million.
The agreement grants Ipsen exclusive commercial rights to the product — for the treatment of medullary thyroid cancer and filed for advanced renal cell carcinoma — outside the U.S., Canada and Japan. The deal includes the approved version of cabozantinib, Cometriq, which is approved in the EU for metastatic medullary thyroid cancer, the company says.
Under the agreement, Exelixis will receive a $200 million upfront payment, as well as $60 million for approval of the drug in Europe for advanced renal cell carcinoma and $50 million for subsequent regulatory and commercial milestones. Exelixis also will gain tiered royalties up to 26 percent on Ipsen’s net sales of cabozantinib in its territories, totaling up to $545 million in possible milestones.
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