Royalty Pharma and Syndax Pharmaceuticals announced on November 4, 2024, a $350 million synthetic royalty funding agreement based on U.S. net sales of Niktimvo (axatilimab-csfr). Under the terms, Syndax received an upfront payment of $350 million.
In exchange for the funding, Royalty Pharma will receive a 13.8% royalty on U.S. net sales of Niktimvo. Royalty payments to Royalty Pharma will cease upon reaching a multiple of 2.35x the investment.
Niktimvo is the first FDA-approved anti-CSF-1R antibody for chronic graft-versus-host disease (GVHD), with launch expected no later than early in the first quarter of 2025. This agreement adds a new, first-in-class therapy to Royalty Pharma's portfolio, reinforcing its position as a funder of innovation in life sciences.
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