Syndax Pharmaceuticals, Inc. announced today that it has entered into an exclusive licensing agreement with Bayer Schering Pharma AG for the acquisition of worldwide rights to the selective histone deacetylase inhibitor (HDACi) MS-275, which becomes known as SNDX-275. Under the terms of the agreement, Syndax will develop and commercialize the compound, while Bayer Schering Pharma will receive upfront and milestone payments. The HDACi becomes Syndax’s lead product candidate to be developed in combination with other oncology therapies. Financial terms of the agreement were not announced.

Syndax, a privately-held biopharmaceutical company focused on developing and commercializing novel cancer therapies in optimized, mechanistically driven combination regimens, announced today the closing of a $40 million Series A financing. Syndax was co-founded by Eckard Weber, M.D., Domain Associates, and Ronald Evans, Ph.D, Salk Institute for Biological Studies and Howard Hughes Medical Institute. The financing was co- led by Domain Associates and MPM Capital. Co-investors include Avalon Ventures, Forward Ventures, and Pappas Ventures. The proceeds of the Series A will be used to fund development of a clinical pipeline.