NEW YORK, July 18 - Bristol-Myers Squibb and Exelixis said Wednesday that they had signed a collaboration and licensing deal targeted at developing new cancer drugs.

Under the terms of the deal, Bristol-Myers Squibb of Princeton, NJ, will make an equity investment in Exelixis, which will use its knock-out technology to identify and validate targets that can trigger cell death in cancerous cells while leaving healthy cells unharmed. Bristol-Myers will then further analyze the targets in humans. 

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