Exelixis, Inc. has signed an extension of its research collaboration with
Bristol-Myers Squibb Co. to develop and commercialize therapies targeted against the Liver X Receptor (LXR), a hormone receptor associated with a variety of cardiovascular and metabolic disorders.
The collaboration, established in January 2005 for a period of two years, has been extended through January 2009. BMS also has retained the option to further extend the research collaboration an additional year. Under the terms of the new agreement, Exelixis will receive $7.5 million of additional research funding.
"Exelixis and BMS have a history of working efficiently and productively together, and we have maintained this positive dynamic in our LXR collaboration," said Michael Morrissey, Ph.D., president of R&D at Exelixis. "In less than two years, we have made substantial progress in identifying and optimizing compounds that activate LXR, potentially providing new treatments for cardiovascular and metabolic diseases, which are diseases with increasing impact."
Under the terms of the collaboration, the two companies will identify drug candidates that are ready for IND application-enabling studies. BMS will then undertake further preclinical development and has responsibility for clinical development, regulatory, manufacturing and sales/marketing activities.
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