Synta Pharmaceuticals, a Lexington, MA-based cancer drug developer, said today it has earned $25 million from its partner, GlaxoSmithKline, for reaching milestones in development of elesclomol. The drug is currently in the final stage of testing for metastatic melanoma, in a trial called Symmetry. Synta (NASDAQ: [[ticker:SNTA]]) is eligible to receive another $25 million in milestone payments before completing enrollment in the study.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
View all posts by Luke Timmerman
