Waltham, MA-based Syndax has struck an in-licensing deal with Bayer Schering over the experimental oncology drug SNDX-275. Syndax recently gained $40 million in its first venture round, and discussed its plans to bring in a compound for development. Terms of the Bayer-Schering deal were not disclosed, though Bayer-Schering gets an up-front fee and milestones as Syndax develops and later commercializes the compound. Syndax plans to launch Phase II trials of the HDAC inhibitor, which has the potential to treat a variety of tumors.
"The successful in-licensing of SNDX-275, which has already demonstrated safety, tolerability, and clinical activity, catapults Syndax forward as an oncology drug development company," Syndax chief executive Joanna Horobin said in a statement.
- read the release from Syndax
- here's the report on the deal from The Boston Globe
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