GSK pays Synta $15M in milestone fees for cancer drug

12/15/2008 | Boston Globe (tiered subscription model), The

Synta Pharmaceuticals got $15 million in milestone fees from GlaxoSmithKline in a collaboration to develop and market elesclomol, an experimental drug designed to destroy cancer cells. Under the deal, Synta is entitled to a total payment of $585 million for reaching clinical-testing goals or making regulatory submissions.

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