Exelixis Entered into an Exclusive Collaboration Agreement with Cybrexa to Acquire CBX-12 for Solid Tumors
Shots:
- Cybrexa will receive a $60M up front fee in exchange for the right to acquire CBX-12 during the warrant period, ~$65.0M in development milestones & exercise the warrant for ~$300.0M upon evaluation of a pre-specified clinical data package, ~$277.5M as an additional fee upon milestones achievement, following the exercise of the warrant
- Under an option agreement, Exelixis get the rights to acquire CBX-12 (alphalex exatecan) & use Cybrexa’s alphalex technology to accelerate the delivery of exatecan to tumor cells. Cybrexa will be responsible to fund development & manufacturing expenses to advance CBX-12 & will continue the development of CBX-12 incl. P-I studies
- The collaboration focuses to expands Exelixis’ clinical pipeline & builds upon its growing biotherapeutics expertise
Ref: Businesswire | Image: Exelixis
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
