Roche, Synta agree to $1 billion licensing deal

NEW YORK A Lexington, Mass.-based drug maker has signed a licensing agreement with Swiss drug maker Roche to develop and market treatments for inflammatory diseases, according to published reports.

The agreement, between Roche and Synta Pharmaceuticals Corp., is potentially worth more than $1 billion. Synta will receive an upfront payment of $25 million, as well as up to $245 million for the first licensed products and up to half that amount for the other two, depending on development milestones. Synta will also receive up to $170 million for each product, depending on commercialization milestones.