Exelixis, Ajinomoto enter license agreement

Ajinomoto (AJINY) announced a license agreement with Exelixis (EXEL) to incorporate AJICAP, Ajinomoto Co.’s proprietary site-specific bioconjugation and linker technologies, in the development of certain of Exelixis’ antibody-drug conjugate programs. As part of the license agreement, Exelixis will have the right to use the AJICAP technology to support its aim of advancing multiple ADCs with the potential for higher efficacy and lower toxicity than currently available options. Ajinomoto Co. is eligible to receive development, regulatory and commercial milestone payments as well as royalties on commercial sales.