Partnering News: GSK & Scynexis
A roundup of bio/pharmaceutical partnering news from GlaxoSmithKline/Scynexis.
GSK, Scynexis In $593-M Pact for Antifungal Drug
GlaxoSmithKline (GSK) and Scynexis, a Jersey City, New Jersey-based bio/pharmaceutical company, have entered into an agreement for Scynexis’ Brexafemme (ibrexafungerp tablets), an antifungal drug, in a deal worth up to $593 million ($90 million upfront and $503 million in milestone payments).
The agreement gives GSK rights to commercialize Brexafemme for vulvovaginal candidiasis (VVC) and recurrent VVC while continuing to develop ibrexafungerp, which is in Phase III clinical trials for the potential treatment of invasive candidiasis (IC), a fungal infection. Brexafemme was approved by the FDA in 2021.
Under the agreement, GSK will make an upfront payment to Scynexis of $90 million, plus additional potential milestone-based payments totaling $503 million. GSK will pay up to $245.5 million if specific development, regulatory, and commercial milestones associated with the IC indication are successfully completed. A further $15-million milestone will be paid upon successful US Food and Drug Administration approval of an additional indication. GSK will pay sales-related milestone payments based on achieving a certain commercial performance of up to $242.5 million, and mid-single digit to mid-teen digit tiered royalties on the totality of sales across all indications (in both cases with the top tier based on achieving net sales greater than $1 billion).
GSK will also receive an exclusive license to develop ibrexafungerp and commercialize Brexafemme in all countries except the greater China region and certain other countries already outlicensed by Scynexis to third parties. Under the agreement, Scynexis will continue executing the Phase III program for IC and other ongoing trials.
This agreement is conditional upon customary conditions, including review by the appropriate regulatory agencies under the Hart-Scott-Rodino Act.