Syndax, Royalty Pharma enter $350M royalty funding agreement for Niktimvo

Syndax Pharmaceuticals (SNDX) and Royalty Pharma (RPRX) announced that Syndax has entered into a $350M synthetic royalty funding agreement with Royalty Pharma based on U.S. net sales of Niktimvo. Under the terms of the agreement, Syndax received an upfront payment of $350M in exchange for a 13.8% royalty on U.S. net sales of Niktimvo. Royalty payments to Royalty Pharma will cease upon reaching a multiple of 2.35x