Cidara Therapeutics receives $11.14M milestone payment from Mundipharma

Cidara Therapeutics announced receipt of an $11.14M milestone payment from Mundipharma following the European approval of REZZAYO, a novel, once-weekly echinocandin antifungal approved for the treatment of invasive candidiasis in adults. This approval by the European Commission follows the positive opinion of the Committee for Medicinal Products for Human Use, CHMP. “The European approval of REZZAYO marks a significant milestone for patients who are in need of new treatment options for invasive candidiasis, and we look forward to seeing Mundipharma bring it to the EU market,” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “With the payment we’ve received from this milestone, we remain committed to advancing our Cloudbreak platform to develop targeted immunotherapies for cancer patients.”