Sanofi, Exelixis in Cancer Drug License Deal

Sanofi-Aventis (SNY Quote) will pay Exelixis(EXEL Quote) upfront fees of $141 million in a license agreement for several cancer drugs.

Exelixis, of South San Francisco, also will receive research funding of $21 million over three years. Exelixis could receive a total of $1 billion, as well as royalties from sales of any products commercialized during the collaboration, the companies said in a statement Thursday.

Sanofi, the French drugmaker, will get the global license rights to XL147 and XL765, both of which are in phase I trials. The companies also will collaborate for the discovery of inhibitors of phosphoinositide-3 kinase for the treatment of cancer. ...