SCYNEXIS, Inc., a biotechnology company developing medicines to overcome and prevent difficult-to-treat and drug-resistant infections, achieved a $25 million performance-based development milestone under its exclusive license agreement with GSK for ibrexafungerp. The milestone payment follows a development goal for the Phase 3 MARIO study for ibrexafungerp in invasive candidiasis. 
 
The exclusive license agreement gives GSK rights to commercialize BREXAFEMME (ibrexafungerp tablets) for vulvovaginal candidiasis while continuing to develop ibrexafungerp, which is in Phase 3 trials for the potential treatment of invasive candidiasis (IC), a life-threatening fungal infection, in all countries except the greater China region and certain other countries already out-licensed by SCYNEXIS to third parties. 
 
Under the agreement, SCYNEXIS received a $90 million upfront and is eligible for additional potential milestone-based payments totaling up to $503 million, as well as royalties on sales across all indications. To date, SCYNEXIS has achieved $115 million in upfront and milestone payments under the agreement.
 
“We are pleased to achieve this development milestone, which reflects the progress we continue to make in advancing the MARIO trial,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “As dangerous antifungal threats continue to emerge, there is a pressing need for new oral step-down agents to address invasive candidiasis. We remain committed to developing innovative solutions that may transform the treatment of fungal infections.”