GSK Bets On Scynexis' FDA-Approved Antifungal Drug For Over $500M In Bio Bucks

Vandana Singh
1 min read
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In this article:

  • GSK plc (NYSE: GSK) and Scynexis Inc (NASDAQ: SCYX) have entered into an exclusive license agreement for Brexafemme (ibrexafungerp tablets).

  • The FDA approved the antifungal for vulvovaginal candidiasis (VVC) and reduced the incidence of recurrent VVC (RVVC).

  • This exclusive agreement gives GSK rights to commercialize Brexafemme for VVC and RVVC while continuing to develop ibrexafungerp, which is in phase 3 trials for potentially treating invasive candidiasis (IC), which affects the blood or internal organs.

  • Scynexis has been looking for a partner after it said last October that it was winding down promotional activities for the drug and announced workforce reduction.

  • Infectious diseases and HIV represent around two-thirds of GSK's pipeline. Brexafemme complements GSK's pipeline alongside late-stage antibiotics gepotidacin and tebipenem.

  • GSK will make an upfront payment to Scynexis of $90 million.

  • Scynexis is due to get $245.5 million in development, regulatory and commercial milestones there — with a separate $15 million tied to an FDA approval. Sales-related milestones add up to another $242.5 million.

  • Price Action: SCYX shares are up 64.70% at $2.75 on the last check Thursday.

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This article GSK Bets On Scynexis' FDA-Approved Antifungal Drug For Over $500M In Bio Bucks originally appeared on Benzinga.com

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