Scynexis Receives Milestone Payment From Merck & Co

Scynexis has achieved a third milestone in its collaboration with Merck & Co to develop antifungal agents. The latest milestone payment was triggered following the initiation of clinical development for a compound derived from the program.

Reportedly, Scynexis and Merck have initiated the antifungal agent discovery and development program in 2002. Scynexis contributed medicinal chemistry, computational chemistry, bioanalytical and Admet support to this program. Merck is responsible for development once compounds are accepted as pre-clinical candidates.

As per the terms of the collaboration, Scynexis is eligible to receive additional milestone payments and up to double-digit percentage royalties on worldwide sales of any product resulting from the program.

Yves Ribeill, president and CEO of Scynexis, said: “Scynexis is pleased to reach this important clinical milestone in collaboration with our valued partner, Merck. This is the eleventh time in Scynexis’ ten year history that a compound originating from our discovery platform has advanced into the clinic.