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SCYNEXIS Reports Closing of Exclusive License Agreement with GSK for BREXAFEMME® (Ibrexafungerp Tablets)
SCYNEXIS is receiving an upfront payment of $90 million with future performance-based milestone payments of up to $503 million and tiered royalties.GSK
About this update from Scynexis, Inc.
[{"type":"text","content":"SCYNEXIS is receiving an upfront payment of $90 million with future performance-based milestone payments of up to $503 million and tiered royalties.GSK obtains the exclusive rights to ibrexafungerp; SCYNEXIS retains rights to all other assets in its proprietary class of enfumafungin-derived antifungal compounds (“fungerps”), currently in preclinical development. JERSEY CITY, N.J., May 12, 2023 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant infections, today announced the closing of its previously announced exclusive license agreement with GSK plc (LSE/NYSE: GSK) to commercialize the novel antifungal BREXAFEMME® (ibrexafungerp tablets) as a treatment for vulvovaginal candidiasis (VVC) and further develop ibrexafungerp for multiple indications in invasive and life-threatening fungal diseases. Under the terms of the agreement, GSK will make an upfront payment to SCYNEXIS of $90 million, plus additional potential milestone-based payments totaling up to $503 million. GSK will also pay mid-single digit to mid-teen digit tiered royalties on the totality of sales across all indications. Further information regarding the financial terms of the agreement can be found in SCYNEXIS’s SEC filings. GSK has the rights to develop ibrexafungerp and commercialize BREXAFEMME in all countries except the greater China region and certain other countries already out-licensed by SCYNEXIS to third parties. Under the license agreement, SCYNEXIS will continue executing the Phase 3 program for invasive candidiasis (IC) and other ongoing trials. SCYNEXIS retains rights to all other assets in its proprietary class of enfumafungin-derived antifungal compounds (“fungerps”), which are currently in preclinical development for the treatment of life-threating invasive fungal diseases. As part of this exclusive license agreement, GSK has been granted a right of first negotiation to these compounds. About BREXAFEMME® (ibrexafungerp tablets) BREXAFEMME® (ibrexafungerp tablets) is a novel oral glucan synthase inhibitor with a broad spectrum of activity including against emerging resistant threats. Its mechanism of action is similar to echinocandins, with fungicidal action against yeast (meaning it kills the fungus), versus fluconazole which is fungi...