Poxel Sells PXL770 to Scynexis for Up to $196 Million

Poxel SA has signed an agreement to sell its drug candidate PXL770 to SCYNEXIS, Inc. for a total potential value of $196 million. PXL770 is designed to treat autosomal dominant polycystic kidney disease (ADPKD) by reducing cyst growth and disease progression. The deal includes an $8 million upfront payment and up to $188 million based on clinical and commercial milestones.

The asset transfer has been approved by IPF, the first beneficiary of Trust 3, which has owned PXL770 since 2024. Seventy-five percent of SCYNEXIS's payments will go towards repaying debt owed to IPF, while a portion will be reserved for Poxel's future needs.

Poxel will concentrate on its TWYMEEG® and PXL065 products, leveraging the strategic realignment to enhance its portfolio values. This divestment aligns with Poxel's continuation strategy and strengthens its financial position.