Royalty Pharma (RPRX) and Syndax Pharmaceuticals (SNDX) announced that Royalty Pharma has entered into a $350M synthetic royalty funding agreement with Syndax 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.
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