Cidara Therapeutics Receives $11.1 Million Milestone Payment from Mundipharma for European Approval of New Antifungal Drug
Biotechnology company Cidara Therapeutics has announced that it has received a significant $11.1 million milestone payment from Mundipharma. This payment follows the European approval of Cidara’s latest product, Rezzayo (rezafungin acetate).
Rezzayo is an echinocandin antifungal drug that has been approved by the European Commission for the treatment of invasive candidiasis in adults. This approval comes after a positive opinion from the Committee for Medicinal Products for Human Use, highlighting the drug’s effectiveness and potential benefits for patients.
The decision by the European Commission was based on promising results obtained from a Phase III clinical trial, where rezafungin was administered once a week and demonstrated statistical non-inferiority to the current standard of care, caspofungin. This indicates that rezafungin could provide a convenient and effective treatment option for patients with invasive candidiasis.
Rezafungin has previously gained approval from the U.S. Food and Drug Administration (FDA) for the treatment of candidemia and invasive candidiasis in patients with limited or no other treatment options. This highlights the potential of Cidara’s new drug in addressing the unmet medical needs of patients with fungal infections.
Cidara Therapeutics is delighted with the approval of Rezzayo in Europe and the milestone payment from Mundipharma. The company remains committed to developing innovative therapies to improve patient outcomes and combat serious infections caused by fungi.
Analyst comment
Positive news. Cidara Therapeutics receives $11.1 million milestone payment from Mundipharma for European approval of antifungal drug. Rezzayo’s approval and payment indicate market confidence in the drug’s effectiveness and potential benefits for patients. This could lead to increased demand and market growth for Cidara Therapeutics.
