Aridis to License Suvratoxumab From AstraZeneca
July 19 2021 - 9:28AM
Dow Jones News
By Michael Dabaie
Aridis Pharmaceuticals Inc. said it is an exclusive licensing
agreement with AstraZeneca for late stage monoclonal antibody
candidate suvratoxumab.
The company said it acquired the global exclusive rights for
development and commercialization of suvratoxumab for all
indications.
Aridis said it licensed phase 3-ready candidate suvratoxumab for
prevention of pneumonia and suvratoxumab would extend its pneumonia
franchise by complementing its existing AR-301 Phase 3 pneumonia
treatment program.
Aridis said it will make an upfront payment to AstraZeneca of
$11 million in cash and Aridis common stock. AstraZeneca will also
receive up to a further $115 million for development and
sales-related milestones, in addition to tiered royalties on net
sales.
The EU Commission's Innovative Medicines Initiative COMBACTE
clinical trial consortium will give up to 25 million euros, or
about $30 million, for the Phase 3 trial for suvratoxumab.
AstraZeneca will become a shareholder of Aridis through the
stock issuance and has right of first negotiation for future
licensing of suvratoxumab.
Aridis shares rose 1% to $5.90 in premarket trading.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 19, 2021 09:19 ET (13:19 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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