Cidara Therapeutics, Inc.: M&A transaction — Cidara sells rezafungin assets to NAPP; $11.145M advance forgiven, $2.786M milestone paid

Cidara Therapeutics, Inc.

On April 24, 2024, Cidara sold all rezafungin acetate assets (IP, regulatory approvals, milestone/royalty rights) to NAPP Pharmaceutical Group (Mundipharma affiliate).
Mundipharma agreed to forgive an $11.145 million development milestone advance, conditional on completion of transition services and know-how transfer.
Mundipharma paid Cidara a $2.786 million milestone upon UK approval of rezafungin for invasive candidiasis in adults.
Cidara will provide transition services for up to 75 days; NAPP assumes costs of ongoing Phase 3 ReSPECT and China ReSTORE trials.
Cidara enters a 7-year non-compete on developing, manufacturing, or commercializing any echinocandin antifungal product worldwide.

item 1.01 item 1.02 item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Cidara Therapeutics, Inc. completed a disposition involving NAPP Pharmaceutical Group Limited (closed 2024-04-24).

Action: disposition
Counterparty: NAPP Pharmaceutical Group Limited
Closing: 2024-04-24

Exact text from the filing

the Company sold to NAPP, effective as of April 24, 2024, all of the Company’s rezafungin acetate assets

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cidara Therapeutics, Inc. entered into Asset Purchase Agreement with NAPP Pharmaceutical Group Limited valued at Sale of rezafungin acetate assets and associated rights in exchange for assumption of liabilities an (effective 2024-04-24).

Action: entry
Agreement: asset purchase
Counterparty: NAPP Pharmaceutical Group Limited
Value: Sale of rezafungin acetate assets and associated rights in exchange for assumption of liabilities an
Effective: 2024-04-24

Exact text from the filing

On April 24, 2024, the Company and NAPP Pharmaceutical Group Limited, a company organized under the laws of England (“NAPP”), and an affiliate of Mundipharma Medical Company (“Mundipharma”), entered into an Asset Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company sold to NAPP, effective as of April 24, 2024, all of the Company’s rezafungin acetate assets, including all of the Company’s right to receive future milestones and royalties under the License Agreement, dated July 26, 2022 between the Company and Melinta Therapeutics, LLC, as amended, (the “Melinta License Agreement”) and the License and Collaboration Agreement dated September 3, 2019 between the Company and Mundipharma, as amended, (the “Mundipharma Collaboration Agreement”), all rezafungin intellectual property rights, including patents and know-how, all product data, regulatory approvals and documentation, rezafungin and comparator inventory, specified prepaid assets and specified contracts, in exch

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cidara Therapeutics, Inc. entered into Novation Agreement with NAPP Pharmaceutical Group Limited valued at Assignment and novation of the Mundipharma Collaboration Agreement and Commercial Supply Agreement f (effective 2024-04-24).

Action: entry
Agreement: collaboration
Counterparty: NAPP Pharmaceutical Group Limited
Value: Assignment and novation of the Mundipharma Collaboration Agreement and Commercial Supply Agreement f
Effective: 2024-04-24

Exact text from the filing

The Company, NAPP and Mundipharma also entered into an Assignment and Novation Agreement to transfer the Mundipharma Collaboration Agreement and Commercial Supply Agreement from the Company to NAPP (the “Novation Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cidara Therapeutics, Inc. amended Melinta License Amendment with Melinta Therapeutics, LLC valued at Amendment to Melinta License Agreement modifying regulatory milestones for additional indication. (effective 2024-04-23).

Action: amendment
Agreement: license
Counterparty: Melinta Therapeutics, LLC
Value: Amendment to Melinta License Agreement modifying regulatory milestones for additional indication.
Effective: 2024-04-23

Exact text from the filing

the Company entered into an amendment, dated April 23, 2024, to the Melinta License Agreement (the “Melinta License Amendment”) that, among other changes, modified the regulatory milestones payable upon receipt of marketing approval of the current rezafungin acetate product for an Additional Indication (as defined in the Melinta License Agreement).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cidara Therapeutics, Inc. terminated Mundipharma Collaboration Agreement with Mundipharma Medical Company valued at Termination of Company's rights and obligations under the agreement due to assignment and novation t (effective 2024-04-24).

Action: termination
Agreement: license
Counterparty: Mundipharma Medical Company
Value: Termination of Company's rights and obligations under the agreement due to assignment and novation t
Effective: 2024-04-24

Exact text from the filing

Item 1.02 Termination of a Material Definitive Agreement. See Item 1.01 above, which is incorporated by reference into this Item 1.02.

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Source: SEC EDGAR

accession 0001610618-24-000054

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