Cempra & Toyama Sign $70-Million License & Development Agreement
Cempra, Inc. recently announced the signing of an exclusive license and development agreement for solithromycin with Toyama Chemical Co., Ltd., a subsidiary of FUJIFILM Holdings Corporation in Japan.
Under the terms of the license and development agreement, Toyama will have exclusive rights to develop and commercialize solithromycin in Japan. Cempra will receive an upfront payment of $10 million as well as up to $60 million in milestone payments from Toyama based on the achievement of certain objectives. Tiered royalties that will be adjusted based on sales are expected to be paid to Cempra following the launch of solithromycin in Japan.
“Toyama is a leading antibacterial company in Japan that has experience in developing and commercializing novel antibiotics in Japan, the second largest antibiotic market in the world,” said Prabhavathi Fernandes, Chief Executive Officer of Cempra. “We are very pleased to see that Toyama has selected solithromycin to add to its portfolio of antibiotics and it will commit significant resources to initiate clinical development and initiate commercialization activities to bring this important new antibiotic to patients in
Japan. We look forward to working with Toyama in bringing solithromycin to market in Japan.”
Macrolides have been widely used in Japan because of their safety, efficacy, and spectrum and availability for adults and children. Solithromycin shows potent antibacterial effect against pneumococcal and Mycoplasma isolates, which are resistant to macrolides on the market, as well as fairly high immunomodulatory (anti-inflammatory) effect, and promises to be a new safe, effective, and convenient antibiotic that will enable physicians to continue to treat respiratory tract infections in their patients.
Founded in 2006, Cempra, Inc. is a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases. For more information, visit www.cempra.com.
Toyama Chemical Co., Ltd., a subsidiary of FUJIFILM Holdings Corporation in Japan, is a leading pharmaceutical company in Japan, working to meet the worldwide demand for effective drugs to overcome new and intractable diseases. For more information, visit www.toyama-chemical.co.jp.
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