Curis receives $8 million payment from Debiopharm for licensed cancer treatment candidate

Curis receives $8 million payment from Debiopharm

CAMBRIDGE, Mass. — Drug developer Curis Inc. said Friday it will receive a $8 million payment from partner Debiopharm SA after that company received French regulatory approval to begin human studies on a potential cancer treatment.

Curis licenses small molecule heat shock protein 90, now called Debio 0932, to Debiopharm, which is based in Switzerland. The approval from Agence Francaise de Securite Sanitaire des Produits de Sante gives Debiopharm clearance to begin studying the potential drug on people. Debiopharm plans to start early-stage studies during the first quarter.

Shares of Curis rose 3 cents to $2.34 in morning trading.