In May 2013, we acquired worldwide rights to SCY-078, a compound resulting from our research collaboration with Merck. We are developing SCY-078 as a novel oral and intravenous (IV) drug for the treatment of several fungal infections, including serious and life-threatening invasive fungal infections. SCY-078 is a novel and structurally distinct triterpenoid glucan synthase inhibitor that has been shown to be effective in vitro and in vivo against a broad range of Candida and Aspergillus species, including drug-resistant strains.
In August 2013, we announced an agreement with R-Pharm CJSC, granting them exclusive rights to develop and commercialize SCY-078 in Russia, Turkey, and certain Balkan, Central Asian, Middle Eastern and Northern African countries. Invasive fungal infections are a serious health concern in these countries and we are pleased to be working with R-Pharm to develop SCY-078 for these patients.