- Syndax Pharmaceuticals Inc SNDX and Incyte Corporation INCY have entered into an exclusive worldwide collaboration and license agreement to develop and commercialize Syndax's axatilimab.
- Related Content: Syndax Pharma Receives FDA Orphan Drug Designation For Axatilimab For Treatment Of Chronic Graft vs. Host Disease
- Syndax and Incyte seek to develop axatilimab for chronic graft-versus-host disease (cGVHD) and additional immune-mediated conditions.
- Syndax recently completed a Phase 1/2 trial of axatilimab in patients with cGVHD.
- Under the terms of the agreement, Incyte will lead global commercial activities for axatilimab across all indications.
- The companies will participate in a 50:50 profit share in the U.S., and Syndax will receive double-digit royalties on sales outside of the U.S.
- Syndax will receive an upfront payment of $117 million and a $35 million equity investment. It is also eligible to receive up to an additional $450 million in milestone payments.
- The companies will share development costs at a rate of 55% (Incyte) and 45% (Syndax), with Incyte responsible for 100% of future development costs for trials that are specific to ex-U.S. countries.
- Price Action: SNDX shares traded higher 5.32% at $19.80, while INCY stock is up 0.84% at $69.58 during the premarket session on the last check Monday.
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