Exelixis (EXEL), Bristol-Myers Squibb (BMY) in $60M Deal
Exelixis Inc. and Bristol-Myers Squibb Co. said Monday they will collaborate on therapies for the treatment of cancer. New York-based Bristol-Myers Squibb (NYSE:BMY - News) will pay $60 million upfront to South San Francisco-based Exelixis (NASDAQ:EXEL - News) Exelixis will also receive $20 million for each of up to three different drug candidates selected by Bristol-Myers Squibb. The parties plan to equally share development costs, commercial profits and co-promotion responsibilities in the United States. Exelixis will also receive royalties on product sales outside of the United States. Exelixis is a development-stage biotechnology company focused on novel small molecule therapeutics for the treatment of cancer and other serious diseases.
Source: Bizjournals.comLabels: BMY, Bristol-Myers Squib Co., EXEL, Exelixis Inc.
posted by Stock Administrator @ 2:08 PM
Exelixis (EXEL), Bristol-Myers Squibb (BMY) in $60M Deal
Exelixis Inc. and Bristol-Myers Squibb Co. said Monday they will collaborate on therapies for the treatment of cancer. New York-based Bristol-Myers Squibb (NYSE:BMY - News) will pay $60 million upfront to South San Francisco-based Exelixis (NASDAQ:EXEL - News) Exelixis will also receive $20 million for each of up to three different drug candidates selected by Bristol-Myers Squibb. The parties plan to equally share development costs, commercial profits and co-promotion responsibilities in the United States. Exelixis will also receive royalties on product sales outside of the United States. Exelixis is a development-stage biotechnology company focused on novel small molecule therapeutics for the treatment of cancer and other serious diseases.
Source: Bizjournals.com
Source: Bizjournals.com
Labels: BMY, Bristol-Myers Squib Co., EXEL, Exelixis Inc.
posted by Stock Administrator @ 2:08 PM
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