AZRX - AzurRx BioPharma First Wave Bio in niclosamide licensing pact for gastrointestinal infections

AzurRx BioPharma (AZRX) enters into an exclusive worldwide licensing agreement with First Wave Bio for the use of their oral and rectal formulations of niclosamide for the treatment of immune checkpoint inhibitor-associated colitis (ICI-AC) and COVID-19 GI infections.According to the agreement, First Wave will receive an upfront payment of $10.25M in cash payable $9M at closing and $1.25M by June 30 and $3M of Convertible Junior Preferred Stock, and up to $74M in potential development and commercial milestones, as well as mid single-digit royalties on product sales.Niclosamide is a small molecule drug that was approved by the FDA in 1982 for the treatment of intestinal tapeworm infections and is on the World Health Organization’s list of essential medicines.AzurRx says it is on track to report top-line data for its two Phase 2 trials evaluating its lead candidate MS1819, in Q1 and Q2 of 2021 and anticipates initiating both the Phase 2 COVID-19 GI infection

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AzurRx BioPharma, First Wave Bio in niclosamide licensing pact for gastrointestinal infections