Exelixis could receive $6 million in extra funding.
Exelixis will receive $6 million in additional funding with the one-year extension of its research collaboration with Bristol-Myers Squibb (BMS). The firms will now work together until January 12, 2010. The partnership focuses on therapies targeted against the Liver X Receptor, a nuclear hormone receptor implicated in cardiovascular and metabolic disorders.
Under the terms of the original collaboration, the companies will identify drug candidates that are ready for IND-enabling studies. Bristol-Myers Squibb will undertake further preclinical and clinical development, regulatory activities, manufacturing, and sales/marketing operations for the compounds.
The collaboration was established in January of 2006 for two years. Bristol-Myers Squibb previously extended the agreement through to January 12, 2009 in 2007.
