Synta gets $10M milestone from GSK under elesclomol accord
The USA's Synta Pharmaceuticals has achieved an operational milestone triggering a $10.0-million payment from UK drug major GlaxoSmithKline under their collaboration agreement for the development and commercialization of elesclomol, an investigational first-in-class oxidative stress inducer that triggers apoptosis in cancer cells. The agent is currently being studied in combination with paclitaxel in a Phase III trial in metastatic melanoma, which completed enrollment earlier this month. Synta has earned a total of $130.0 million in payments from GSK to date, including a $80.0 million upfront amount in 2007 and $40.0 million in 2008.
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