Shots:

• Aurigene to receive 10M upfront while Exelixis get an option to license three developed programs from Aurigene. Additionally- Exelixis and Aurgene is developing three discovery programs- for which Exelixis will pay $2.5M/program in exchange for exclusive rights for the program
• Exelixis will provide R&D funding for all programs. Exelixis can exercise its option until IND acceptance- if exercised- it will pay option exercise fee along with milestones payment and royalties. Aurigene will retain development & commercialization rights of the program in India & Russia
• The focus of the agreement is to expand Exelixis’s oncology portfolio apart from its lead candidate- Cabometyx (cabozantinib) which is indicated for the treatment of advanced renal cell carcinoma in patients prior treated with anti-angiogenic therapy

Click here to­ read full press release/ article | Ref: Business Wire | Image: Bio Spectrum