Roche, Synta ink $1B deal

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
- read the AP report

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