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Cidara Therapeutics (NASDAQ:CDTX) said it has received an $11.14M milestone payment from partner Mundipharma related to the European approval of its antifungal drug Rezzayo for the treatment of invasive candidiasis in adults.
Cidara said the payment will help advance its Cloudbreak platform for the development of drug-Fc conjugates, a type of targeted immunotherapy.
Reyazzo is already approved by the FDA for the treatment of candidemia and invasive candidiasis in patients with few or no treatment options. The product received UK regulatory approval in late January.