SCYX News & Events

POXEL (PXXLF) entered into a definitive agreement with SCYNEXIS (SCYX) in connection with the sale of its drug candidate PXL770. PXL-770 is a novel, highly selective, direct AMPK activator developed for the treatment of autosomal dominant polycystic kidney disease, the leading genetic cause of end-stage renal disease. This product has been designed to act on several underlying mechanisms of ADPKD by reducing cyst growth and disease progression. PXL770 has been granted orphan drug designation by the U.S. Food and Drug Administration and is protected by existing patents until at least 2041. To date, ADPKD has only one approved treatment, Jynarque, which generated approximately $1.5B in sales in the U.S. in 2024, despite limited patient adoption due to safety, tolerability, and follow-up constraints. Under the terms of the asset disposal agreement, SCYNEXIS will make an upfront payment of $8M to Poxel SA, to which may be added future payments of up to $188M triggered based on the completion of various clinical and commercial milestones. SCYNEXIS expects to initiate a Phase 2 proof-of-concept study in patients with ADPKD in the fourth quarter of 2026, with a first efficacy reading expected in the second half of 2027. It is specified that IPF, as the first beneficiary of Trust 3 which has owned the PXL770 asset since September 30, 2024, authorized the transfer of this asset to the assets of POXEL SA for sale to Scynexis. In return, IPF will receive 75% of the amounts paid by Scynexis which will be allocated to the repayment of its debt. However, IPF has agreed that a portion of the amounts received in respect of the upfront payment and the 2 clinical milestone payments will be set aside for Poxel, to secure the future financing of the company. These amounts may be used according to the company's future needs and under the conditions defined in the Tranche D PDR documentation. Also, Poxel will have the option to cancel these additional commitments within three months of their availability, if the company considers that they are no longer necessary.

Scynexis announced that it has entered into a securities purchase agreement with certain new and existing institutional and accredited investors. The company anticipates upfront gross proceeds from the private placement to be approximately $40M, before deducting placement agent fees and transaction-related expenses, and up to an additional $52.2M in gross proceeds if the Common Warrants are fully exercised for cash, subject to Stockholder Approval of shares of common stock issuable upon exercise of the Common Warrants. The private placement is expected to close on or about April 1, subject to the satisfaction of customary closing conditions. The private placement financing includes participation from new and existing institutional investors, including Great Point Partners, LLC, Squadron Capital Management LLC, Adage Capital Management, L.P., Propel Bio Partners, a large healthcare-dedicated fund, and other investors. The Company's President and Chief Executive Officer, Dr. David Angulo, is also participating in the private placement. Guggenheim Securities, LLC is acting as the sole placement agent for the private placement.

Scynexis has entered into a definitive agreement with Poxel to acquire PXL-770 - now SCY-770 -. SCY-770 is a novel, highly selective, direct AMP-activated protein kinase, or AMPK, activator for the treatment of ADPKD, the leading genetic cause of end-stage renal failure. SCY-770 is designed to address many of the underlying drivers of ADPKD by reducing cyst growth and disease progression. SCY-770 is an oral therapy that has been evaluated in eight clinical trials, with a favorable safety profile. Scynexis is expected to begin a Phase 2 proof-of-concept study in ADPKD patients in Q4 2026, with an anticipated early efficacy readout in second half of 2027. SCY-770 has been granted Orphan Drug Designation by the FDA. Scynexis will make an upfront payment of $8M, with future potential payments of up to $8M in development milestones, and up to $180M in commercial milestones, of which $125M is triggered by annual net sales at or above $1B.

SCYNEXIS announced that the first participants have been dosed in a Phase 1 single ascending dose and multiple ascending dose trial evaluating the intravenous formulation of its second-generation triterpenoid antifungal therapy, SCY-247, which is being developed as a treatment for invasive candidiasis and as a prophylaxis therapy for invasive fungal disease. Results from this trial are expected in 2026.