- Exelixis (NASDAQ:EXEL) announces that its partner Ipsen Biopharmaceuticals Canada has received approval from Health Canada for CABOMETYX (cabozantinib) tablets for the treatment of adults with advanced renal cell carcinoma (RCC) who have received prior vascular endothelial growth factor targeted therapy. Health Canada granted CABOMETYX priority review status, which provided an accelerated review of Ipsen’s new drug submission.
- The approval was based on results of the phase 3l METEOR trial.
- Under the terms of the Collaboration Agreement with Ipsen, Exelixis will receive a milestone payment of $5M for the Health Canada approval.