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News Breaks
December 12, 2012
07:10 EDTCRISCuris 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.
News For CRIS From The Last 14 Days
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January 22, 2015
08:20 EDTCRISCuris price target raised to $5 from $3 at Oppenheimer
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January 21, 2015
07:34 EDTCRISCuris to host conference call
Conference call to discuss the Curis-Aurigene transaction will be held on January 21 at 8 am. Webcast Link
06:07 EDTCRISCuris and Aurigene Discovery announce exclusive collaboration agreement
Curis and Aurigene Discovery Technologies announced that they have entered into an exclusive collaboration agreement focused on immuno-oncology and selected precision oncology targets. The collaboration provides for inclusion of multiple programs, with Curis having the option to exclusively license compounds once a development candidate is nominated within each respective program. The partnership draws from each company's respective areas of expertise, with Aurigene having the responsibility for conducting all discovery and preclinical activities, including IND-enabling studies and providing Phase 1 clinical trial supply, and Curis having responsibility for all clinical development, regulatory and commercialization efforts worldwide, excluding India and Russia, for each program for which it exercises an option to obtain a license. The first two programs under the collaboration are an orally-available small molecule antagonist of programmed death ligand-1 in the immuno-oncology field and an orally-available small molecule inhibitor of Interleukin-1 receptor-associated kinase 4 in the precision oncology field. Curis expects to exercise its option to obtain exclusive licenses to both programs and file IND applications for a development candidate from each in 2015. The agreement provides that the parties will collaborate exclusively in immuno-oncology for an initial period of approximately two years, with the option for Curis to extend the broad immuno-oncology exclusivity.In addition Curis has agreed to make payments to Aurigene as follows: For the first two programs: up to $52.5 million per program, including $42.5 million per program for approval and commercial milestones, plus specified approval milestone payments for additional indications, if any; For the third and fourth programs: up to $50 million per program, including $42.5 million per program for approval and commercial milestones, plus specified approval milestone payments for additional indications, if any; and for any program thereafter: up to $140.5 million per program, including $87.5 million per program in approval and commercial milestones, plus specified approval milestone payments for additional indications, if any. Curis has agreed to pay Aurigene royalties on any net sales ranging from high single digits to 10% in territories where it successfully commercializes products and will also share in amounts that it receives from sublicensees depending upon the stage of development of the respective molecule.

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