Sept. 3 Company Quick Takes: Mundipharma-Cidara, Roche-Spark, Vascepa
Mundipharma licenses rights to Cidara’s rezafungin
Cidara Therapeutics Inc. (NASDAQ:CDTX) granted Mundipharma International Ltd. (Dublin, Ireland) exclusive rights to develop and commercialize rezafungin outside the U.S. and Japan to treat and prevent invasive fungal infections. Cidara will receive $30 million up front and Mundipharma will make a $9 million equity investment in Cidara. Cidara will receive $42 million in near-term funding to support the Phase III ReSTORE and ReSPECT trials of the once-weekly echinocandin antifungal to treat and prevent fungal infections. It also is eligible to receive milestone payments of $487 million plus double-digit royalties.
Further delay for Roche’s Spark deal
Roche (SIX:ROG; OTCQX:RHHBY) has extended its tender offer for all shares of Spark Therapeutics Inc. (NASDAQ:ONCE) to Oct. 1 from Sept. 3. The companies said the offer was extended to allow additional time for the FTC and the U.K. Competition and Markets Authority to complete their reviews of the acquisition. Roche has extended its deadline to acquire Spark at least four previous times. ...