Exelixis partner Sairopa provides milestones update

Sairopa has achieved a milestone event in its exclusive clinical development and option agreement with Exelixis (EXEL) involving ADU-1805, an anti-SIRPalpha antibody with the potential to enhance the immune system’s ability to combat cancer. Under the terms of the agreement, Exelixis has an exclusive option to license worldwide development and commercialization rights for ADU-1805 and other anti-SIRPalpha antibodies following the review of data from Sairopa’s phase 1 clinical studies. As part of its collaboration with Exelixis, Sairopa has previously received from Exelixis an upfront payment of $40M, a $35M milestone payment upon Investigational New Drug clearance of ADU-1805 with the FDA, and $35M in milestone payments linked to advances within the clinical development of ADU-1805, in monotherapy as well as in combination with a PD-1 inhibitor. The safety and pharmacokinetics of ADU-1805 are currently being evaluated in a first-in-human phase 1 study.