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Synta's Merger With Madrigal Creates New Entrant In NASH Race

Moving past its late-stage clinical failure with ganetespib, Synta will combine with Madrigal to develop a Phase II-ready compound for NASH and hypercholesterolemia.

Enter another competitor in the already crowded NASH arena: troubled oncology firm Synta Pharmaceuticals Corp. and privately held Madrigal Pharmaceuticals Inc. are merging in an all-stock deal to develop a selective thyroid hormone receptor agonist for non-alcoholic steatohepatitis, as well as a pair of hypercholesterolemia indications.

Under the transaction announced April 14 and scheduled to close by the end of the third quarter, Lexington, Mass.-based Synta will acquire all outstanding shares in Madrigal, issuing in exchange...

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