SAN FRANCISCO, Jan. 3 - Exelixis and Cytokinetics will partner in building a small molecule compound library, the companies said on Thursday.
The South San Francisco-based companies will jointly own and have the right to use in internal drug discovery any compounds generated as a result of the collaboration, the companies said. While both companies will design small molecules, Exelixis will be responsible for synthesizing compounds using its combinatorial chemistry platforms. Exelixis will receive cash payments for creating the compounds.
Financial details of the deal were not disclosed.
Cytokinetics is working to develop medical therapies based on a cell's cytoskeleton.
"In a very short period of time, Exelixis has built a robust chemistry program that is an asset for generating novel, high quality compounds to advance our internal discovery efforts and for corporate partnering," George Scangos, CEO of Exelixis, said in a statement. "The compounds generated through this collaboration have the potential to benefit both companies' pipelines."
In Oct., Exelixis entered a deal with Sunnyvale, Calif.-based Scios to jointly develop a compound library.