Swedish Orphan Biovitrum AB (Sobi) (STO: SOBI) today announced that their agreement with Exelixis, Inc. has been restructured and extended to 31 December 2019. Sobi is responsible for the commercialisation and distribution of Cometriq® (cabozantinib) for progressive, unresectable, locally advanced or metastatic medullary thyroid cancer (MTC) in the European Union (EU), Switzerland, Norway, Russia, and Turkey. The companies established the collaboration in February 2013, which was initially structured to expire 31 December 2015.
"The extension of this agreement reflects our recognition of the value of Sobi's established experience and commercial presence across Europe," said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis. "By working with Sobi, we are able to provide access to MTC patients in Europe without the need for a large-scale direct investment in sales and marketing infrastructure."
"We are very pleased to extend the agreement with Exelixis and proud to support access to Cometriq in Europe. The evolution of our partnership with Exelixis will continue to bring significant value to patients," said Anders Edvell, Vice President and Head of Sobi Partner Products at Sobi.
Cometriq (cabozantinib) inhibits the activity of multiple tyrosine kinases including RET, MET and VEGFR2. These receptor tyrosine kinases are involved in both normal cellular function and in pathologic processes such as oncogenesis, metastasis, tumour angiogenesis, and maintenance of the tumour microenvironment.
Exelixis, Inc. is a biopharmaceutical company committed to developing small molecule therapies for the treatment of cancer. Exelixis is focusing its development and commercialisation efforts primarily on Cometriq (cabozantinib), its wholly-owned inhibitor of multiple receptor tyrosine kinases. Another Exelixis-discovered compound, cobimetinib, a highly selective inhibitor of MEK, is being evaluated by Roche and Genentech, Inc. (a member of the Roche Group) in a broad development program under a collaboration with Exelixis. For more information, please visit the company's web site at www.exelixis.com.
About Sobi Partner Products
Sobi Partner Products (SPP) is a business unit within Sobi which offers a unique commercial platform for partners with niche and specialty products. SPP provides extensive knowledge and local experience through our direct presence across EU, Eastern Europe, Russia, Middle East and North Africa. We apply an integrated commercial, medical, and market access approach to products which address important unmet needs, working from named patient use (NPU) programs through to reimbursement and commercialization, primarily in the Centre of Expertise setting. The key SPP therapeutic areas are Oncology, Haematology, Infectious Diseases, and Emergency Medicines & Antidotes. More information is available at www.sobipartnerproducts.com.
Sobi is an international specialty healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Inflammation and Genetic diseases, with two late stage biological development projects within Haemophilia. We also market a portfolio of specialty and rare disease products for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2013, Sobi had total revenues of SEK 2.2 billion (€253 M) and about 550 employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com.
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