Synta has the potential to obtain $845 million more in success-based fees.
Synta Pharmaceuticals has received an operational milestone payment of $15 million from GlaxoSmithKline (GSK) under its collaboration covering elesclomol. The compound is an oxidative stress inducer that triggers apoptosis in cancer cells.
Elesclomol is currently being studied in combination with paclitaxel in a Phase III trial in metastatic melanoma. Synta also recently initiated a Phase I/II trial of the molecule in combination with docetaxel in hormone-refractory metastatic prostate cancer.
Synta and GSK entered into the agreement for elesclomol in October 2007. The deal was valued at $965 million and included development and commercialization in melanoma and other cancer indications. Synta earned $80 million upfront and $40 million in milestones thus far.
