Aridis Pharmaceuticals Inc. (NASDAQ: ARDS) stock declines during the current market by 11.11%. Aridis Pharmaceuticals, Inc. researches and develops anti-infectives that can be used in conjunction with conventional antibiotics to treat infections.
Aridis Pharmaceuticals has signed an exclusive, global licensing deal with AstraZeneca to in-license suvratoxumab, a late-stage monoclonal antibody product.
The following are the key points of the contract:
- Candidate for Phase 3 AstraZeneca has licensed Suvratoxumab, a monoclonal antibody (mAb) for the prevention of pneumonia. Suvratoxumab complements Aridis’ current AR-301 Phase 3 pneumonia therapy development, extending the company’s pneumonia business.
- This is a Lancet ID publication. Protection and a statistical significance (47 percent) relative decrease of pneumonia in S. aureus colonized, mechanically ventilated patients less than 65 years old were authored in The Lancet Infectious Diseases journal, with correlating decrease in the amount of days needed in the ICU and hospital.
- Up to €25 million in financing (about $30 million) is available. Suvratoxumab Phase 3 clinical trial is being funded by the EU Commission’s Innovative Medicines Initiatives.
- The ownership interest in Aridis held by AstraZeneca. Through the issuing of common stock, AstraZeneca becomes a stakeholder of Aridis and has the right of first negotiation for future licensing
Vu Truong, Aridis’ Chief Executive Officer stated,
They are honored to be chosen as AstraZeneca’s licensee. The excellent findings from the Phase 2 trial offer them an edge in defining the patient group, main endpoint, and clinical study design for the Phase 3 confirmatory trial, paving the way for a clear route to the Phase 3 confirmatory trial.
Mark Esser, Vice President, Microbial Sciences, AstraZeneca commented,
Suvratoxumab has the potential to revolutionize the treatment of lung infections in ventilated patients. They are happy to finalize this licensing agreement with Aridis, who they feel will be a strong partner in the development of suvratoxumab.