RTTNews | Apr 5, 2021 07:26AM EDT

07:26 Monday, April 5, 2021 (RTTNews.com) - Cidara Therapeutics, Inc. (CDTX) has entered into an exclusive worldwide license and collaboration agreement with Janssen Pharmaceuticals, Inc. to develop and commercialize Cidara's Cloudbreak antiviral conjugates for the prevention and treatment of seasonal and pandemic influenza. Cidara will be responsible for the development and manufacturing of the influenza AVC, CD388, into the clinic and through phase 2 clinical development. Janssen will be responsible for late-stage development, manufacturing, registration and global commercialization. Cidara will receive an upfront payment of $27 million and Janssen will fund all future research, development, manufacturing and commercialization for CD388.

Cidara is also eligible to receive up to an aggregate of $753 million in budgeted R&D funding and in development, regulatory and commercial milestones, plus tiered royalties on worldwide sales in the mid to high single digits.

Cidara plans to file an Investigational New Drug Application for CD388 with the FDA by the end of 2021.

Shares of Cidara Therapeutics were up nearly 10% in pre-market trade on Monday.

Read the original article on RTTNews ( https://www.rttnews.com/3182376/janssen-pharma-gets-worldwide-rights-to-cidara-s-cd388-other-influenza-antiviral-conjugates.aspx)

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