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News Breaks | | | | December 12, 2012 | | 07:10 EDT |  | CRIS | Curis closes $30M secured debt financing transaction
Curis announced that it has closed the previously announced $30M debt transaction with BioPharma-II, an investment fund managed by Pharmakon Advisors. The debt is secured with certain future royalties of Erivedge. "The completion of this transaction has significantly strengthened our capital position and we currently expect that we will end 2012 with approximately $56M-$58M in cash, cash equivalents and investments. We believe that this provides us with adequate capital to fund our currently planned operations into 2015. Importantly, our cash forecast does not include either potential milestones from our partners Genentech and Debiopharm or royalty revenues that we may receive in excess of quarterly payment caps under our debt arrangement, either of which could meaningfully increase our capital position if achieved," the company said. | |
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| May 10, 2013 | | 07:04 EDT | | CRIS | Curis announces approval of Erivedge in Australia
Curis announced that Erivedge was approved for marketing registration by Australia's Therapeutic Goods Administration for the treatment of adult patients with metastatic basal cell carcinoma, or with locally advanced basal cell carcinoma where surgery and/or radiation therapy are not appropriate. Erivedge is the first licensed treatment in Australia for patients with advanced basal cell carcinoma, a rare form of skin cancer which can be disfiguring, debilitating and even fatal. Curis earned a $4M milestone payment as a result of the TGA's approval of Erivedge and Curis is also entitled to receive royalties on Roche's future net sales of Erivedge in Australia. | |
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