Theriva Biologics licenses SYN‑020 to Rasayana Therapeutics
Theriva Biologics has licensed exclusive worldwide rights to SYN-020 to Rasayana Therapeutics; the orally delivered recombinant intestinal alkaline phosphatase completed Phase 1 safety testing and is positioned to enter Phase 2. Rasayana assumes responsibility for further clinical development and commercialization across metabolic and inflammatory indications, while Theriva received an upfront payment and may earn up to $38 million in milestone payments plus tiered royalties.
Why it mattersRasayana acquiring SYN-020 after Phase 1 and $38M milestones means investors must assess Phase-2 financing.