News brief­ing: Ex­elix­is rolls the dice with 2 ADC deals tied to $35M cash up­fronts; A rare an­tibi­ot­ic win for promi­nent­ly-backed Spero

Catal­ent’s Red­wood Bio­science sub­sidiary is tak­ing the lead role in de­vel­op­ing AD­Cs for Ex­elix­is $EX­EL. In one of 2 deals an­nounced this morn­ing, Ex­elix­is is turn­ing to Catal­ent to do the dis­cov­ery work on the AD­Cs, which will em­ploy their SMARTag site-spe­cif­ic bio­con­ju­ga­tion plat­form tech­nol­o­gy us­ing an­ti­bod­ies out of the biotech’s pipeline.

Catal­ent gets $10 mil­lion up­front to trig­ger the deal, with Ex­elix­is hold­ing world­wide de­vel­op­ment rights on any­thing it choos­es.

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