Biotech Values

[DewDiligence]

FDA approves Astellas’ Cresemba for fungal infections:

http://finance.yahoo.com/news/astellas-receives-fda-approval-cresemba-214400419.html

Astellas today announced that the U.S. Food and Drug Administration has approved its New Drug Application for the use of CRESEMBA (isavuconazonium sulfate), the prodrug for isavuconazole, for patients 18 years of age and older in the treatment of invasive aspergillosis and invasive mucormycosis (also known as zygomycosis). These are life-threatening fungal infections predominantly occurring in immunocompromised patients.

…CRESEMBA is being co-developed with Basilea Pharmaceutica International Ltd. Basilea submitted a European Marketing Authorization Application on July 16, 2014 for the treatment of invasive aspergillosis and mucormycosis in adults. Upon this approval, Astellas will pay a CHF 30 million milestone payment to Basilea Pharmaceutica International Ltd. under their license and co-development agreement.