Synta receives $15 million milestone from GSK
This article was originally published in Scrip
Synta Pharmaceuticals, a US-based biopharmaceutical company, has achieved an operational milestone that has triggered a $15 million payment from GlaxoSmithKlineunder the two companies' agreement for the development and commercialisation of the cancer treatment elesclomol. Elesclomol, an oxidative stress inducer that triggers apoptosis in cancer cells, is currently being studied in combination with paclitaxel in a Phase III clinical trial in metastatic melanoma. Synta may receive up to $585 million in pre-commercial milestones from GSK, related to operational progress, clinical progress, regulatory filings and outcomes in melanoma and other cancer indications. The company may also receive up to $300 million in sales milestones, 40-50% of operating profits in the US and double-digit royalties on sales outside of the US.
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