Business
Syndax Pharmaceuticals and Incyte Announce Global Collaboration to Develop and Commercialize Axatilimab for Chronic Graft-Versus-Host Disease and Other Fibrotic Diseases
- Syndax to receive $ 152 million in cash ($117 million upfront plus a $35 million equity investment, with potential for $450 million in additional milestone
About this update from Syndax Pharmaceuticals, Inc.
[{"type":"text","content":"- Syndax to receive $ 152 million in cash ($117 million upfront plus a $35 million equity investment, with potential for $450 million in additional milestone payments; 50:50 profit share in the U.S. and double-digit royalties on ex-U.S. sales -\n - The two companies expect to expand development of axatilimab in chronic graft-versus-host disease (cGVHD) with additional monotherapy and combination trials planned in 2022 -\n - Syndax to commence Phase 2 proof of concept trial in idiopathic pulmonary fibrosis (IPF) in early 2022 -\n - Incyte to lead U.S. and global commercial activities; Syndax retains option to co-promote in the U.S. -\n - Syndax to host conference call today at 8:00 a.m. ET; Incyte to host conference call today at 10:00 a.m. ET -\n\n\nWALTHAM, Mass. and WILMINGTON, Del., Sept. 27, 2021 /PRNewswire/ -- Syndax Pharmaceuticals, Inc. (Nasdaq: SNDX) and Incyte (Nasdaq: INCY) announced today that they have entered into an exclusive worldwide collaboration and license agreement to develop and commercialize axatilimab, Syndax's anti-CSF-1R monoclonal antibody.\n\"This partnership has the potential to significantly expand and maximize the axatilimab program across multiple lines of treatment in chronic graft-versus-host Disease (cGVHD), as well as additional indications in which the monocyte-macrophage lineage plays a vital role in the fibrotic disease process, such as idiopathic pulmonary fibrosis (IPF),\" said Briggs W. Morrison, M.D., Chief Executive Officer of Syndax. \"Incyte is a proven leader in the development and commercialization of many important innovative therapies, including a treatment for GVHD. We are thrilled to be working alongside this talented and determined team to combine our expertise as we strive to provide new treatment options for patients in desperate need of effective interventions.\" \n\"We are excited to partner with Syndax and for the opportunity to bring another potential treatment to patients with life-threatening conditions, like GVHD,\" said Hervé Hoppenot, Chief Executive Officer of Incyte. \"Collaborations between companies like Incyte and Syndax, who are both dedicated to scientific advancement, contribute to the development of new innovative medicines that may benefit patient communities around the world.\"\nSyndax and Incyte are seeking to develop axatilimab as a backbone therapy for...