Syndax Pharma, Incyte Ink Licensing Pact For Graft Vs. Host Disease Candidate - Incyte (NASDAQ:INCY), Syndax Pharmaceuticals (NASDAQ:SNDX)

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.