Exelixis and Bristol-Myers Squibb extend LXR development agreement
Exelixis has signed an extension of its research collaboration agreement with Bristol-Myers Squibb to develop and commercialize novel therapies targeted against the Liver X Receptor (LXR), a nuclear hormone receptor implicated in a variety of cardiovascular and metabolic disorders.

LXR activation targets two risk factors of heart disease and provides an approach for decreasing the deposition of fat and lipids in the artery wall and suppressing the inflammatory damage associated with atherosclerosis.

The collaboration, originally established in January 2005 for a two-year period, has now been extended through January 12, 2009, at Bristol-Myers’ request. Bristol-Myers also retained the option to further extend the research collaboration an additional year.

Exelixis will receive $7.5 million in additional funding, under the terms of the agreement.