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May 16 Company Quick Takes: Iconic oncology deals; plus Zymeworks-GSK, Aimmune and more

May 16, 2019 9:13 PM UTC

Iconic in pair of deals to develop lead oncology program
Iconic Therapeutics Inc. (South San Francisco, Calif.) granted Exelixis Inc. (NASDAQ:EXEL) an option to license ICON-2 for $7.5 million up front and funding for preclinical development of the antibody-drug conjugate (ADC) targeting tissue factor (TF; CD142; thromboplastin) to treat solid tumors. If exercised, Iconic would be eligible for undisclosed milestones plus royalties (see “Exelixis to Fuel Pipeline Growth with Cabometyx Cash Flows”).

The deal comes two days after Iconic received non-exclusive rights to use the ZymeLink ADC platform from Zymeworks Inc. (NYSE:ZYME; TSX:ZYME) to develop ICON-2. ...