Exelixis, Invenra Announce Expanded Collaboration - Quick Facts

(RTTNews) - Exelixis, Inc. (EXEL) and Invenra, Inc. have expanded their discovery and licensing collaboration to include an additional 20 oncology targets. Exelixis has agreed to pay Invenra an upfront fee of $15.0 million, as well as additional fees and funding for the option to nominate up to 20 additional targets in oncology. Invenra will be eligible for development, regulatory, and commercial milestones, as well as tiered royalties on net sales.

Exelixis and Invenra are currently collaborating to discover and develop mono-specific and multi-specific antibodies using Invenra's antibody and B-Body platforms under an original agreement announced in 2018. The companies expanded collaboration in 2019 to generate additional programs.