UPDATE 1-Arpida suspends iclaprim project after EU rejection
* EU regulators give negative opinion on treatement
* Arpida to withdraw marketing application in EU
* Company says merger with Evolva not impacted
(Writes through, adds detail)
ZURICH, Oct 20 (Reuters) - Swiss biotech company Arpida Ltd ARPN.S said it was withdrawing its European marketing application for intravenous antibiotic iclaprim after it got a negative opinion from EU regulators.
The decision will have no impact on its planned takeover by Evova, Arpida said.
Arpida said the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMEA) had reached a negative opinion on the market authorisation application (MAA) for intravenous iclaprim in complicated skin and soft tissue infections (cSSTI) in the European Union.
"We are obviously disappointed," said Arpida CEO Juergen Raths. "It confirms that a resumption of the iclaprim development programme would require large investments that are beyond our reach.
"As a consequence, we will no longer pursue the programme and continue the search for a partner for the compound."
Arpida shares lost nearly all their value earlier this year after the company failed to gain regulatory approval for lead drug candidate iclaprim. But the shares rallied over 300 percent on news that Evova would take over the troubled group. [ID:nLA582576] (Writing by Lisa Jucca; Editing by David Holmes)
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