All Elesclomol Rights Returned to Synta

15 June 2009 (Last Updated June 15th, 2009 18:30)

Biopharmaceutical company Synta and GlaxoSmithKline (GSK) have ended collaboration on the clinical development and commercialisation of elesclomol, effective no later than 10 September 2009. Worldwide rights to elesclomol will now be reverted to Synta, which may pay GSK a low single-digi

Biopharmaceutical company Synta and GlaxoSmithKline (GSK) have ended collaboration on the clinical development and commercialisation of elesclomol, effective no later than 10 September 2009.

Worldwide rights to elesclomol will now be reverted to Synta, which may pay GSK a low single-digit royalty on any potential future sales of elesclomol.

Synta president and CEO Safi Bahcall said that a meeting would be conducted to review the data from the SYMMETRY trial and additional results later this year, and these will be used to choose an informed path forward for the programme.

"While we are continuing to evaluate the potential of elesclomol, we are focusing our resources on the other programmes in our portfolio, particularly our Hsp90 programme, for which we expect to initiate a number of new clinical trials in the near term," Bahcall said.

"We expect to report more on additional data and plans for the programme later in 2009."