Syndax Pharma, Incyte Ink Licensing Pact For Graft Vs. Host Disease Candidate

Syndax Pharmaceuticals Inc SNDX and Incyte Corporation INCY have entered into an exclusive worldwide collaboration and license agreement to develop and commercialize Syndax's axatilimab.
Related Content: Syndax Pharma Receives FDA Orphan Drug Designation For Axatilimab For Treatment Of Chronic Graft vs. Host Disease
Syndax and Incyte seek to develop axatilimab for chronic graft-versus-host disease (cGVHD) and additional immune-mediated conditions.
Syndax recently completed a Phase 1/2 trial of axatilimab in patients with cGVHD.
Under the terms of the agreement, 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., and Syndax will receive double-digit royalties on sales outside of the U.S.
Syndax will receive an upfront payment of $117 million and a $35 million equity investment. It is also eligible to receive up to an additional $450 million in milestone payments.
The companies will share development costs at a rate of 55% (Incyte) and 45% (Syndax), with Incyte responsible for 100% of future development costs for trials that are specific to ex-U.S. countries.
Price Action: SNDX shares traded higher 5.32% at $19.80, while INCY stock is up 0.84% at $69.58 during the premarket session on the last check Monday.