Synta, Roche in $25M licensing deal

By Mass High Tech staff

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Biopharmaceutical company Synta Pharmaceuticals Corp. has signed a licensing agreement with New Jersey-based Hoffman-La Roche Inc. and its Swiss parent company, in which Synta will receive $25 million for license fees and research. In return, Roche will obtain worldwide rights to the anti-inflammatory research conducted in the two-year period.

The agreement could bring in up to $1 billion, based on the market potential of three drugs, the Boston Business Journal reports.

The BBJ cited a Synta (Nasdaq: SNTA) spokesman as suggesting the anti-inflammatory market is better equipped to weather nervous investors and a turbulent economy, given the widespread applications for allergies, rheumatoid arthritis, asthma and other health issues.

Earlier this month, Synta pulled in a $15 million milestone payment from GlaxoSmithKline PLC for the development and commercialization of elesclomol, Synta’s drug for programming cell death in cancer cells.

Synta is a biopharmaceutical company focused on developing chemical-based or small molecule drugs for cancer and other diseases.

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