Poxel's PXL770 Sold to Scynexis for up to $196 Million

Poxel has sold its drug candidate PXL770 to Scynexis for a total amount of up to $196 million. PXL770 is a treatment for autosomal dominant polycystic kidney disease (ADPKD), with orphan drug designation and existing patents until 2041. Scynexis will make an upfront payment of $8 million and may receive additional payments based on clinical and commercial milestones. Poxel will receive 75% of the amounts paid by Scynexis, with a portion set aside to secure Poxel's debt. Scynexis plans to initiate a Phase 2 proof-of-concept study in patients with ADPKD in Q4 2026.