Lexington, MA-based Synta Pharmaceuticals and Roche have signed a licensing deal for preclinical anti-inflammatory compound, according to an SEC filing. Synta gets $25 million up front and up to $1 billion in milestone payments if the drug makes it to market. The companies say three drugs could result from the compound. The company could earn $245 million in development milestones for the first product, and as much as $122.5 million each for the other two products, in addition to royalties.
"We think this is a very attractive target because of the range of indications for the drugs, from allergies and asthma to auto-immune diseases, organ rejection and rheumatoid arthritis," Synta spokesperson Rob Kloppenburg told the Boston Business Journal.
- here's the Journal report [1]
- read the AP report [2]
Related Articles:
Synta gets $15M milestone from GSK [3]
Synta earns $25M milestone from GSK pact [4]
Melanoma therapy produces positive mid-stage data [5]
Roche raises the bar on new drug programs [6]
Roche's chance for $45B Genentech deal dwindles [7]
Links:
[1] http://boston.bizjournals.com/boston/stories/2008/12/29/daily15.html
[2] http://www.businessweek.com/ap/financialnews/D95D48IG0.htm
[3] http://www.fiercebiotech.com/story/synta-gets-15m-milestone-gsk/2008-12-12
[4] http://www.fiercebiotech.com/story/synta-earns-25m-milestone-glaxo-partnership/2008-10-14
[5] http://www.fiercebiotech.com/story/melanoma-therapy-produces-positive-mid-stage-data/2008-05-20
[6] http://www.fiercebiotech.com/story/roche-raises-bar-new-drug-programs/2008-12-08
[7] http://www.fiercebiotech.com/story/roches-chance-completing-45b-genentech-deal-dwindles/2008-12-01