X-Ceptor Therapeutics, Inc.

Exelixis completes acquisition

Published in Managed Care Business Week, November 9th, 2004

Exelixis, Inc., (EXEL) announced the completion of its acquisition of X-Ceptor Therapeutics, Inc., a company focused on the discovery and development of small molecules that modulate nuclear hormone receptors.

Pursuant to the merger agreement announced on September 28, 2004, Exelixis acquired all of the outstanding shares of capital stock of X-Ceptor in exchange for approximately 2.5 million shares of Exelixis common stock and approximately $2.9 million in cash.

X-Ceptor's development programs will be integrated into Exelixis' discovery group led by Michael Morrissey, PhD. Richard Heyman, PhD, X-Ceptor's former chief scientific officer, will report...

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Source: Managed Care Business Week (2004-11-09)

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