Poxel sells the PXL770 to Scynexis for a potential value of $196 million

Poxel SA has entered into an agreement with Scynexis for the sale of its investigational treatment PXL770, an AMPK activator, for a total amount of up to $196 million. The agreement includes an upfront payment of $8 million, followed by contingent payments based on clinical and commercial milestones, totaling up to $188 million.

PXL770 is intended to treat autosomal dominant polycystic kidney disease (ADPKD). A phase 2 trial is planned for late 2026, with results expected in 2027. The agreement includes a clause whereby IPF, the holder of the PXL770 patent, will receive 75% of the payments to repay its debt, while also securing funds for Poxel.

Nicolas Trouche, CEO of Poxel, sees this sale as a step in line with their strategy, strengthening their financial position. The focus is now on the TWYMEEG® and PXL065 products to create additional value.