BioInvent International AB, a biotech company involved in the discovery and development of immune-modulatory antibodies for cancer immunotherapy, reported that its early discovery partner Exelixis, Inc. has provided a notice of termination for the option and license agreement for novel antibodies for use in immuno-oncology therapeutics. The companies will collaborate on a wind-down and effective transition over the next 90 days.

The news follows a recently announced corporate restructuring program within Exelixis, prioritizing its pipeline of clinical and near-clinical programs. BioInvent regains the full rights to all targets and resulting candidates developed under the collaboration.

“We have appreciated the excellent partnership with Exelixis which has identified very interesting new pathways,” said Martin Welsch of CEO of BioInvent. “These novel targets, generated from our proprietary F.I.R.S.T platform, formed the basis for generation of unique antibodies for immuno-oncology therapy. BioInvent has a long track record of successful collaborations and the positive progress on these exciting immuno-oncology targets opens the door to further opportunities.”