Exelixis to Co-Develop Autoimmune Drugs with Boehringer

Exelixis said it entered into a collaboration with Germany's Boehringer Ingelheim to discover, develop and commercialize autoimmune disease therapies. Under the terms, Exelixis will receive a
$15 million upfront payment. In addition, it would receive up to $339 million in milestone payments. The companies will share responsibility for discovery activities and Boehringer Ingelheim will have sole responsibility for all subsequent pre-clinical, clinical, regulatory, commercial and manufacturing activities. ­Exelixis currently has collaborations with Bristol-Myers-Squibb on ­development of cancer drugs