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Curis, Inc. (CRIS) and Debiopharm Group, a group of companies with a focus on the development of prescription drugs that target unmet medical needs, have entered into a worldwide, exclusive license agreement for Curis' Heat Shock Protein (Hsp90) technology, including CUDC-305, the company's lead Hsp90 inhibitor candidate.
Under the terms of the agreement, Debiopharm will assume all future development responsibility and incur all future costs related to the licensed Hsp90 technology, including CUDC-305. Curis currently expects that Debiopharm will file an application with health authorities to begin Phase I clinical testing for CUDC-305 in Fall 2009. Curis will receive an up-front license fee and, pending approval of such application, Curis will receive additional near-term payments. Curis is further eligible to receive additional contingent payments assuming the successful achievement of specified clinical development and regulatory approval objectives as well as royalties on product sales, if any, on any products that are successfully commercialised by Debiopharm or its sublicensees.
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