Singapore- The European Commission (EC) has approved commercialization partner Ipsen's marketing application for CABOMETYX (cabozantinib) 20, 40, 60 mg for the first-line treatment of adults with intermediate- or poor-risk advanced renal cell carcinoma (RCC).

This approval allows for the marketing of Cabometyx (cabozantinib) in this indication in all 28 member states of the European Union, Norway and Iceland and triggers a $50M milestone payment to Exelixis ($46M was recognized as collaboration revenue in Q1).

CABOMETYX was first approved in Europe for second-line RCC in September 2016.