actively pursuing ways to monetize this asset.
-- Extended our research collaboration agreement with Bristol-Myers
Squibb Company to develop and commercialize novel therapies targeted
against the Liver X Receptor. We also received a milestone payment of
$5.0 million from Bristol-Myers Squibb as a result of the acceptance
of an IND, or foreign equivalent.
-- Submitted XL139 to Bristol-Myers Squibb Company in December 2007 under
our oncology collaboration agreement. In January 2008, Bristol-Myers
Squibb exercised its option to develop and commercialize XL139,
thereby triggering a $20.0 million selection milestone payment, and we
exercised our option to co-develop and co-commercialize the compound
in the United States and receive royalties on product sales outside of
the United States.
-- Received $18.0 million from the sale of a major portion of our plant
trait assets to Agrigenetics, Inc., a wholly-owned subsidiary of The
Dow Chemical Company.
-- Sold an 80.1% stake in Artemis to Taconic Farms, for $19.8 million.
-- Completed a public offering of common stock, raising net proceeds of
-- Appointed Richard E. Buller, M.D., Ph.D. to the newly created position
of Vice President, Translational Medicine, Arthur DeCillis, M.D. to
the position of Vice President, Clinical Research, and Anne Champsaur,
M.D. to the position of Vice President, Drug Safety.
-- Appointed Jose Baselga, M.D., a leading expert in oncology drug
discovery, to our Scientific Advisory Board.
-- Appointed Carl B. Feldbaum, president emeritus of the Biotechnology
Industry Organization, to our Board of Directors.
"2007 was an exceptional year in the growth and development of Exelixis
|SOURCE Exelixis, Inc.|
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