Shots:

• Iconic to receive $7.5M upfront- funds for preclinical development and is eligible for option exercise payment- development- regulatory & commercial milestones- royalties on sales. Exelixis to get an option to license Iconic’s ICON-2 ADC program and will exercise its option at IND filing
• The focus of the collaboration is to robust Exelixis’s oncology portfolio by developing therapies utilizing Iconic’s Tissue Factor antibody expertise
• ICON-2 is a second-generation ADC targeting Tissue Factor in solid tumors as TF overexpression accelerates angiogenesis- metastasis leading to tumor development and progression

Ref: Exelixis | Image: Iconic Therapeutics