Syndax Partners With Incyte To Develop, Commercialize Axatilimab - Quick Facts

Syndax Pharmaceuticals, Inc. (SNDX) and Incyte (INCY) have entered into a worldwide collaboration and license agreement to develop and commercialize axatilimab, Syndax's anti-CSF-1R monoclonal antibody. 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. Syndax will receive double-digit royalties on sales outside of the U.S.

Syndax said enrollment continues in the ongoing global pivotal phase 2 AGAVE-201 trial of axatilimab monotherapy in patients with chronic graft-versus-host disease, with topline data expected in 2023. Syndax will commence phase 2 proof of concept trial in idiopathic pulmonary fibrosis in early 2022.

Syndax will also receive an upfront payment of $117 million plus a $35 million equity investment, which will be purchased at $24.62 per share. The company will also be eligible to receive up to an additional $450 million in potential milestone payments.

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