Exelixis and Ipsen alter collaboration to include Canada

Exelixis and Ipsen have amended the collaboration and licensing agreement for the commercialization and continued development of cabozantinib, to include commercialization rights in Canada for Ipsen.

Signed in February 2016, the original agreement gave Ipsen commercialization rights for current and potential future cabozantinib indications outside of the US, Canada and Japan.

Following the amendment, Exelixis maintains rights for cabozantinib in the US and Japan, and is continuing discussions with potential partners for commercial rights in Japan.

Under the terms of the amendment, Exelixis will receive a $10 million upfront payment. Exelixis is eligible to receive regulatory milestones, for the approvals of cabozantinib in Canada for advanced renal cell carcinoma (RCC) after prior treatment, for first-line RCC, and advanced hepatocellular carcinoma (HCC), as well as additional regulatory milestones for potential further indications.

In line with the prior transaction between the parties, the agreement also includes commercial milestones and provides for Exelixis to receive tiered royalties on Ipsen’s net sales of cabozantinib in Canada.

“Exelixis and Ipsen have made significant progress together since signing our collaboration and licensing agreement in February, and considering the substantial business resources that Ipsen has in Canada, amending the terms to grant Ipsen Canadian rights is a natural next step,” said Michael Morrissey, president and CEO of Exelixis.

“Over the past nine months, CABOMETYXTM received regulatory approval for advanced RCC in the United States as well as the European Union, where Ipsen recently began launching the product. Our collaboration with Ipsen is strong, and we look forward to continued progress as they pursue approval and commercialization in Canada.”