Aridis Acquires Rights For Development And Commercialization Of Suvratoxumab

(RTTNews) - Aridis Pharmaceuticals Inc. (ARDS) said that it has acquired global exclusive rights from AstraZeneca (AZN, AZN.L) for development and commercialization of the late stage monoclonal antibody candidate suvratoxumab for all indications.

AstraZeneca retains rights of first negotiation for future licensing.

Aridis said it will make an upfront payment to AstraZeneca of $11 million in cash and Aridis common stock. AstraZeneca will also receive up to a further $115 million on achievement of certain development and sales-related milestones, in addition to tiered royalties on net sales.

Suvratoxumab monoclonal antibody (mAb) for prevention of pneumonia has been licensed from AstraZeneca. Suvratoxumab extends Aridis' pneumonia franchise by complementing the existing AR-301 Phase 3 pneumonia treatment program.

Suvratoxumab and AR-301 are complementary products. Suvratoxumab's focus on preventive treatment of S. aureus pneumonia complements Aridis' AR-301 Phase 3 mAb program which is being developed as a therapeutic treatment of S. aureus pneumonia.