Poxel Sells PXL770 to Scynexis for Up to $196M in ADPKD Drug Deal
Event summary
- Poxel has sold its ADPKD drug candidate PXL770 (now SCY-770) to Scynexis for up to $196M, including an $8M upfront payment.
- The deal includes milestone payments tied to clinical and commercial progress, with potential payments up to $188M.
- Scynexis plans to initiate a Phase 2 study for ADPKD in Q4 2026, with first efficacy readings expected in H2 2027.
- Poxel will use proceeds to strengthen its financial position and focus on TWYMEEG® and PXL065 development.
The big picture
This deal reflects Poxel's strategic pivot to monetize its pipeline while focusing on core assets. Scynexis gains a promising ADPKD candidate in a market with limited treatment options, highlighting the value of orphan drug designations. The transaction underscores the biotech sector's reliance on milestone-driven partnerships to balance risk and reward.
What we're watching
- Clinical Progress
- Whether Scynexis can successfully advance PXL770 through Phase 2 and 3 trials to meet milestone payments.
- Financial Impact
- How Poxel allocates the proceeds to support its remaining pipeline and strategic partnerships.
- Market Dynamics
- The competitive positioning of PXL770 against Jynarque®, the only approved ADPKD treatment.