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Drug Names(s): XL999
Description: XL999 is a novel anticancer compound that targets multiple receptor tyrosine kinases (RTKs) implicated in tumor cell proliferation and angiogenesis. XL999 is one of several Spectrum Selective Kinase Inhibitors (SSKI) in Exelixis’ product pipeline. Each SSKI has a different RTK inhibition spectrum, and each has the potential to achieve efficacy through simultaneous inhibition of multiple RTKs. Preclinical studies have shown that XL999 simultaneously inhibits the FGFR, VEGFR, PDGFR and Flt3 RTKs with high levels of potency and demonstrates excellent activity in target-specific cellular functional assays. XL999 has demonstrated potent anti-tumor activity in a variety of preclinical models of solid tumors as well as a Flt3-driven model of leukemia.
Deal Structure: Pursuant to a product development and commercialization agreement between Exelixis and GlaxoSmithKline (GSK), GSK has the option, after completion of Phase IIa clinical trials, to elect to develop a certain number of the cancer compounds in Exelixis product pipeline (other than the companys cancer compound XL119), which may include XL999, thus potentially triggering milestone payments and royalties from GSK and co-promotion rights by Exelixis.
In June 2005, Exelixis entered into a transaction with Symphony Capital Partners to provide up to $80 million of funding for the further clinical development of XL647, XL999 and XL784. Under the terms of the agreement, Symphony Capital, a private equity fund focused on biopharmaceutical development, has formed Symphony Evolution, Inc., which will be initially capitalized with $40 million and holds an option to call an additional $20 million to $40 million within one year of closing. Symphony Capital investors, through Symphony Evolution,...See full deal structure in Biomedtracker
Partners: GlaxoSmithKline plc Symphony Capital LLC
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