Exelixis Pharmaceuticals Inc. has moved into the second phase of its corporate development strategy, acquiring from MetaXen LLC some of the capabilities it needs to do drug discovery and development for its own account.

"Our technology base is working well and we are generating targets and delivering them to our partners," said George Scangos, president and CEO of Exelixis. "We have retained in-house some proprietary targets and many of them look very interesting. We needed to find a way to utilize those targets and