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Stock Update (NASDAQ:CEMP): Cempra Inc Receives $10 Million Milestone Payment From Toyama Chemical as Solithromycin Progresses to Phase 3 Studies in Japan

Cempra, Inc. (NASDAQ:CEMP) announced the receipt of a $10 millionmilestone payment from Toyama Chemical Co., Ltd. (Toyama) a subsidiary of FUJIFILM Holdings Corporation, triggered by Toyama progressing to Phase 3 studies with solithromycin in Japan, the world’s second largest antibiotic market.

Earlier this year, Toyama completed a Phase 2 multi-center, randomized, double-blinded study of 135 Japanese patients with mild to moderate community-acquired bacterial pneumonia (CABP). Patients were randomized to either oral solithromycin or oral levofloxacin for five days. Overall safety and tolerability was similar in both treatment groups and all efficacy outcome measures favored solithromycin.

The Japanese Phase 2 study was similar in design to the Phase 3 CABP studies conducted by Cempra in accordance with guidance from the United States Food and Drug Administration (FDA) and the European Medicines Agency (EMA).

Toyama owns exclusive rights to develop and commercialize solithromycin in Japan for respiratory tract...