PHILADELPHIA GlaxoSmithKline has entered into a development and commercialization agreement with Synta Pharmaceuticals to share rights to a new type of cancer treatment.
The drug, Synta’s investigational metastatic melanoma treatment STA-4783, induces cell death by elevating oxidative stress levels beyond tumor thresholds. The product is being tested in combination with Bristol-Myers Squibb’s Taxol and generics.
Under the agreement, Synta will receive $80 million upfront from GlaxoSmithKline and will also receive a total of $135 million in development milestones leading to approval for the melanoma indication. An additional $450 million will be awarded should other indications be discovered, and GSK will pay up to $300 million based on sales.