News brief­ing: Ex­elix­is pays $20M to in-li­cense a pre­clin­i­cal ADC for the pipeline; An­oth­er pre­clin­i­cal biotech shoots for a big IPO

Eigh­teen months af­ter Ex­elix­is signed on to part­ner with Icon­ic Ther­a­peu­tics on an an­ti­body-drug con­ju­gate, more mon­ey is flow­ing.

Ex­elix­is is pick­ing up its ex­clu­sive op­tion on the tis­sue fac­tor-tar­get­ing ADC now known as XB002 (for­mer­ly ICON-2), Icon­ic’s lead pro­gram. Ex­elix­is is adding $20 mil­lion to the $7.5 mil­lion it paid up­front. Part of that goes to ZymeWorks, which as­sist­ed with their ZymeLink ADC tech.

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