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GSK Pays Synta $15M

Rebecca Zacks 12/12/08

Lexington, MA-based cancer drug developer Synta Pharmaceuticals (NASDAQ: SNTA) announced it has earned a $15 million milestone payment from GlaxoSmithKline. The pyament is part of a deal inked last October and worth up to $1.1 billion that focuses on Synta’s elesclomol, which is currently in Phase 3 testing as a treatment for metastatic melanoma.

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