Scientists at Exelixis, Inc. (Nasdaq: EXEL) today announced that their joint venture with Bayer’s crop protection business group, Genoptera LLC, has delivered several additional novel insecticide targets for assay development and subsequent high throughput screening to Bayer. The targets were developed using Exelixis’ genomics-based technology, marking a new approach that uses genetic information to target pests. The delivery of these targets triggers undisclosed milestone payments to Exelixis.

"We are extremely satisfied to see that Genoptera continues to deliver on its challenging objectives," said Geoff Duyk M.D., Ph.D., chief scientific officer of Exelixis. "Through Genoptera, we are proving that our expertise in model system genetics and comparative genomics adds substantial value to research for crop protection chemicals by providing unique new targets. This is even more promising, since targets delivered earlier are now advancing successfully through the screening cascade."

George Scangos, Ph.D., president and chief executive officer of Exelixis, Inc. commented, "This ability to couple our expertise in target discovery and assay development with Bayer’s formidable R & D and marketing capabilities marks a new era in pesticide discovery. These results validate a new approach we hope will help Bayer continue to develop safe and environmentally friendly products for pest control."

Formed in January 2000, Genoptera LLC focuses on the discovery of novel insecticides and nematicides. The joint venture is a continuation and expansion of the collaboration that Exelixis and Bayer initially established in April 1998 and expanded in June 1999. In addition to $80 million in committed research funding over the course of the eight-year joint venture, the arrangement involves a $20 million up-front payment and performance-based milestone and royalty payments to Exelixis. Bayer has the exclusive right to commercialize insecticides based on technology developed by Genoptera.