Cubist obtains remaining rights to drug candidate that would treat urinary tract infections
Cubist Pharmaceuticals Inc., the Lexington drug company best known for the antibiotic Cubicin, said it has obtained the rights to ceftolozane in certain Asia-Pacific and Middle East territories from Astellas Pharma Inc.
With the attainment of these rights, Cubist said it now owns worldwide rights to develop, manufacture, and commercialize ceftolozane/tazobactam. Ceftolozane is a drug candidate with the potential to treat for urinary tract and intraabdominal infections. It is currently in trials.
Cubist previously obtained the rights, outside of the Asia-Pacific and Middle East territories covered by today’s agreement with Astellas, to develop and commercialize ceftolozane/tazobactam through its acquisition of Calixa Therapeutics Inc. in 2009.
Under the terms of the agreement disclosed Monday, Astellas will receive an upfront payment of $25 million, and sales of ceftolozane/tazobactam made in the newly-obtained territories will be counted towards the existing commercial milestone and royalty terms of the original agreement. Cubist said it will fund the upfront payment with cash on hand.
Chris Reidy can be reached at reidy@globe.com.
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