The Medicines Company is buying Curacyte subsidiary Curacyte Discovery for €14.5 million up front. Curacyte Discovery is developing a serine protease inhibitor in the area of hemostasis and anti-coagulation. Its lead candidate, CU-2010, a treatment for preventing surgical blood loss, is expected to enter Phase I trials by the end of this year. The Medicines Company gains CU-2010 as part of the deal, and Curacyte could receive an additional payment of €10.5 million if the drug proceeds to Phase II clinical development--Curacyte could also earn commercial milestone and royalty payments.
"The transaction will help the parent company, Curacyte, to focus on fully developing its key product, hemoximer, in a pivotal Phase III study in distributive shock," said Dr. Helmut Giersiefen, Curacyte's CEO.
- here's the release [1]
Related Article:
Medicines Company gets not approvable letter [2]
Links:
[1] http://www.fiercebiotech.com/press-releases/curacyte-sells-its-subsidiary-curacyte-discovery-gmbh-medicines-company-14-5-million
[2] http://www.fiercebiotech.com/story/also-noted-medicines-company-gets-not-approvable-letter-sun-taro-merger-cal/2008-05-28