Poxel SA (POXEL.PA, PXXLF), a clinical-stage biopharmaceutical company, on Tuesday announced that it has agreed to sell its drug candidate PXL770 to Scynexis, Inc. (SCYX), for up to $196 million.
The deal includes an upfront payment of $8 million, with additional payments of up to $8 million tied to near-term development milestones and up to $180 million linked to commercial milestones.
A Phase 2 proof-of-concept study in patients with autosomal dominant polycystic kidney disease is expected to begin in the fourth quarter of 2026, with an initial efficacy readout anticipated in the second half of 2027.
The transaction aims to advance the development and commercialization of PXL770, a clinical-stage drug targeting the underlying mechanisms of autosomal dominant polycystic kidney disease.
The company plans to focus on its core pipeline, including TWYMEEG and PXL065, and pursue new partnerships to create long-term value.
Scynexis is a biotechnology company focused on developing innovative therapies for severe and rare diseases.
Poxel SA is currently trading 9.78% higher at EUR 0.2525 on the Paris Stock Exchange.
In the pre-market trading, Scynexis is 4.76% higher at $0.8273 on the Nasdaq.
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