Synta Pharmaceuticals (NASDAQ:[[ticker:SNTA]]), a Lexington, MA-based developer of drugs for cancer and other diseases, says that it has received a $10 million payment from London-based drug giant GlaxoSmithKline for reaching an operational milestone in the development of elesclomol, which is in late-stage clinical trials for the treatment of metastatic melanoma in combination with chemotherapy drug paclitaxel. Synta’s collaboration with GSK to develop elesclomol has brought the firm total payments of $130 million since 2007, according to Synta.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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