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The partnership relates to a novel oral formulation, developed under the project name ‘Nefecon’, of a potent and well-known active substance – budesonide – designed to target down regulation of IgA1 with a view to be disease modifying.
Calliditas intends to use the net proceeds for the purposes of funding of its ongoing Phase 3 clinical trial and related trials of Nefecon, pre-commercialization and, if approved, commercialization activities for Nefecon and development of additional product candidates.
The net proceeds will be used to advance clinical and commercial developments of Calliditas's lead drug, Nefecon, an oral formulation of the corticosteroid budesonide.