Daiichi-Sankyo

In March 2006, Exelixis and Daiichi Sankyo Company Limited entered into a collaboration agreement to discover, develop and commercialize novel therapies targeted against the mineralocorticoid receptor (MR), a nuclear hormone receptor (NHR) implicated in a variety of cardiovascular and metabolic diseases.

Under the terms of the agreement, Exelixis received a $20 million upfront payment upon signing of the agreement and is entitled to receive research funding, development, regulatory and commercialization milestone payments as well as double-digit royalties on the sale of any products commercialized under the collaboration. In June 2007, the initial research term of the collaboration was extended by mutual agreement until December 2007. After the end of the joint research term, Sankyo is responsible for all further preclinical and clinical development, regulatory, manufacturing and commercialization activities for the compounds.