Cempra, a clinical-stage pharmaceutical company, said Monday that Toyama Chemical Co. Ltd., a subsidiary of Fujifilm, has begun phase 3 clinical trials of solithromycin in Japan for patients with community-acquired bacterial pneumonia and other respiratory infections.
Toyama owns exclusive rights to develop and commercialize solithromycin in Japan for respiratory tract infections. Cempra had already received $40 million payment from the licensing deal including a $10 million milestone payment in November for Toyama advancing the drug to phase 3 studies. The company can earn an additional $30 million in payments based on certain objectives. Shares were 5% higher in recent morning trade.