Curis, Inc. (NASDAQ: CRIS) announced today that its licensee Debiopharm S.A. ("Debiopharm") has treated the fifth patient in its ongoing Phase I clinical trial for small molecule heat shock protein 90 (Hsp90) inhibitor Debio 0932, formerly called CUDC-305. Under the terms of the August 2009 license agreement between Curis and Debiopharm, Curis will receive a $3 million milestone payment from Debiopharm for the achievement of this development objective.
“Debiopharm's achievement of this important development milestone has brought the total consideration that we have earned to date under this collaboration to $13 million.”
"Our relationship with Debiopharm has provided Curis with an important source of capital over the last several months," said Dan Passeri, Curis' President and Chief Executive. "Debiopharm's achievement of this important development milestone has brought the total consideration that we have earned to date under this collaboration to $13 million."
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