Mundipharma has signed an agreement to acquire all assets and rights related to antifungal candidate Rezzayo (rezafungin) from , including ongoing development and distribution.
The assets and rights will be acquired by Napp Pharmaceutical Group, which is a member of the international network of Mundipharma independent associated companies.
Cidara Therapeutics has an existing partnership with Mundipharma.
The agreement includes the transfer of responsibilities for the ongoing ReSPECT Phase III clinical trial and associated costs. This strategic move is anticipated to result in cost savings of nearly $128m for Cidara over the patent life of rezafungin.
It also stipulates that Mundipharma will assume all future royalties and milestones related to rezafungin, which were previously owed to Cidara.
The assets acquired by Mundipharma also encompass rezafungin鈥檚 intellectual property rights, product data, regulatory approvals, and existing product inventory.
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By GlobalDataCidara estimates an additional approximately $61m in forecasted obligations extending through rezafungin’s expected patent life.
The transaction also involves the transfer of specific prepaid assets and contracts.
Cidara had previously received a $2.786m milestone payment from Mundipharma following the approval of rezafungin acetate for treating invasive candidiasis in adults by the UK Medicines and Healthcare products Regulatory Agency.
Mundipharma has also agreed to waive Cidara’s obligation to reimburse an $11.145m milestone advance, contingent on the latter completing transition services and asset transfer as per the definitive agreements.
Rezafungin is a once-weekly echinocandin for the treatment of invasive candidiasis in adults.
It is currently available in the UK and Germany, with plans for accelerated review procedures to expand access to this vital medicine.
Cidara president and CEO Jeffrey Stein said: 鈥淲e are proud to have advanced rezafungin from preclinical development to approval in the US, EU, and UK for the treatment of patients suffering from life-threatening fungal infections.
鈥淲ith that accomplished, we believe the substantial cost savings enabled by this transaction will enable us to deploy our capabilities to progress our promising Cloudbreak pipeline and create opportunities to advance potentially transformational new therapies in oncology and other disease areas.”
