SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq:EXEL) today announced that it has submitted a comprehensive data report for investigational new drug (IND) candidate XL413, a selective inhibitor of Cdc7, to Bristol-Myers Squibb Company (NYSE:BMY). Bristol-Myers Squibb now has 30 days to review the data package and determine if it will select the compound for clinical development and commercialization. If Bristol-Myers Squibb selects XL413, Exelixis will be entitled to a $20 million milestone payment under the 2007 collaboration agreement with Bristol-Myers Squibb to discover, develop, and commercialize novel targeted therapies for the treatment of cancer.
