Theriva Biologics, Inc. (TOVX) has entered into an exclusive worldwide license agreement with Rasayana Therapeutics for the development and commercialization of SYN-020, an oral recombinant intestinal alkaline phosphatase enzyme.
Under the terms of the deal, Theriva received a $300,000 upfront payment and is eligible for up to $38M in development, regulatory, and sales milestones along with tiered single-digit royalties on net product sales.
Rasayana will assume full responsibility and costs for advancing SYN-020 through clinical development and commercialization.
SYN-020 is designed to restore intestinal barrier function and reduce systemic inflammation by targeting gut-organ axis biology. The candidate has potential applications across multiple indications, including chronic inflammatory and metabolic diseases.
Theriva, a clinical-stage company focused on cancer and related diseases, has been streamlining its portfolio to prioritize oncology programs while out-licensing assets like SYN-020 to partners with complementary expertise. Rasayana, a privately held biotech, specializes in gut-targeted medicines and will lead the next phase of SYN-020's development.
TOVX has traded between $0.17 and $1.75 over the past year. The stock closed Wednesday's trading at $0.19, up 6.25%. In pre-market trading on Thursday, TOVX is up over 12% at $0.21.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.