Royalty Pharma and Syndax Pharmaceuticals have announced a $350 million royalty funding agreement for Niktimvo (axatilimab-csfr), a treatment for chronic graft-versus-host disease (GVHD).
Under the terms of the agreement, Royalty Pharma will receive a 13.8% royalty on U.S. net sales of Niktimvo, with payments ceasing once they reach 2.35 times the initial investment.
The funding aims to support the upcoming U.S. launch of Niktimvo, as well as the continued development of Syndax’s pipeline, including revumenib, a selective menin inhibitor. With this capital infusion, Syndax expects to fund operations through profitability, projecting a pro forma cash balance near $800 million as of June 30.
Syndax anticipates that Niktimvo, developed in collaboration with Incyte, will be launched in the U.S. by early 2025. This treatment is intended for adult and pediatric GVHD patients who have not responded to at least two prior therapies, potentially addressing a significant unmet need in the field.