SAN FRANCISCO, Jan. 7 - Exelixis will collaborate with Schering-Plough Research Institute in building a custom-designed compound library, Exelixis CEO George Scangos said on Monday.
The alliance, which Scangos characterized as a "small collaboration not on the level of [the past deals] with Bristol Myers Squibb or Bayer," represents the company's fourth chemistry-oriented relationship in which Exelixis is asked to generate a library of compounds.
Speaking at the 20th annual JPMorgan H&Q Healthcare Conference, held here through Thursday, Scangos said the collaboration allowed both companies to use the compounds in individual drug-discovery programs. Scangos said the alliances brought in revenue while supplying possible lead compounds for Exelixis' own drug-discovery effort.
"The business is dependent on shots on goal," said Scangos, who added that the company would be filing its first Investigational New Drug application for its anticancer compound Rebeccamycin, developed in collaboration with Bristol-Myers Squibb, this year.Two INDs per year starting in 2003 will follow.