On November 1, 2022, Cybrexa Therapeutics, a biotechnology company focused on developing the next generation of cancer therapeutics, announced that it has entered into an exclusive collaboration agreement with Exelixis. The agreement provides Exelixis the right to acquire Cybrexa's clinical-stage, first-in-class peptide-drug conjugate CBX-12. Under the terms of the agreement, Cybrexa will receive an upfront fee of $60 million in exchange for the right to acquire CBX-12 pending certain Phase 1 results and for funding of an agreed development plan. Cybrexa may also be eligible to receive up to an additional $642.5 million, including development, regulatory and commercial milestone payments, as well as a fee for the acquisition of CBX-12 upon evaluation of a pre-specified clinical data package.

The WilmerHale team advising Cybrexa Therapeutics included Michael Gilligan, Steven Barrett, Brian Johnson, Julie Hogan Rodgers, Will Myer, Meghan Walsh and Molly Nelson.