GSK has inked a license agreement with Scynexis, adding a first-in-class antifungal to its industry-leading infectious disease portfolio.
The exclusive deal gives GSK rights to commercialize Brexafemme, an FDA approved treatment of vulvovaginal candidiasis. GSK will also take over the phase 3 development of the drug for the potential treatment of invasive candidiasis, a life-threatening fungal infection.
In exchange for its only marketed product, New Jersey-based Scynexis will receive an upfront payment of $90 million, plus additional potential milestone-based payments totaling $503 million. Half of those milestone payments hinge on development, regulatory and commercial milestones in the invasive candidiasis indication.
The deal is good news for Scynexis, who announced its plans to out-license the drug back in October, along with layoffs and executive leadership changes, in order to extend its cash runway into Q2 2024.