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Cempra, Inc. Signs Exclusive License and Development Agreement for Solithromycin with Toyama Chemical Co., Ltd., a subsidiary of FUJIFILM Holdings Corporation in Japan
Date:5/13/2013

CHAPEL HILL, N.C., May 13, 2013 /PRNewswire/ -- Cempra, Inc. (Nasdaq: CEMP), a clinical-stage pharmaceutical company focused on developing differentiated antibiotics to meet critical needs in the treatment of bacterial infections, today announced the signing of an exclusive license and development agreement for solithromycin with Toyama Chemical Co., Ltd., a subsidiary of FUJIFILM Holdings Corporation in Japan. The company will host a conference call and webcast at 4:30 p.m. EDT, today, to discuss the agreement.

Under the terms of the license and development agreement, Toyama will have exclusive rights to develop and commercialize solithromycin in Japan.  Cempra will receive an upfront payment of $10 million as well as up to $60 million in milestone payments from Toyama based on the achievement of certain objectives.  Tiered royalties that will be adjusted based on sales are expected to be paid to Cempra following launch of solithromycin in Japan.

"Toyama is a leading antibacterial company in Japan that has experience in developing and commercializing novel antibiotics in Japan, the second largest antibiotic market in the world," said Prabhavathi Fernandes , chief executive officer of Cempra. "We are very pleased to see that Toyama has selected solithromycin to add to its portfolio of antibiotics and it will commit significant resources to initiate clinical development and initiate commercialization activities to bring this important new antibiotic to patients in Japan. We look forward to working with Toyama in bringing solithromycin to market in Japan."

Macrolides have been widely used in Japan because of their
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SOURCE Cempra, Inc.
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