Under the agreement, Exelixis will make an upfront payment to WuXi in exchange for an exclusive license to a panel of monoclonal antibodies to a preclinically validated target, discovered based on WuXi's integrated technology platforms, for the development of antibody-drug conjugate, bispecific, and certain other novel tumor-targeting biologics applications.

WuXi will be eligible for development and commercialization milestones, as well as tiered royalties on net sales of any potential commercialized products.

The partnership builds on the momentum that Exelixis established with its flagship product, cabozantinib, a small-molecule inhibitor of the tyrosine kinases, mesenchymal-epithelial transition factor (c-MET) and vascular endothelial growth factor receptor 2 (VEGFR2).

Financial details of the agreement were not disclosed.

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