Biogen Idec is paying $50 million up front--and potentially $220 million in total--for the commercialization rights to Cardiokine's lixivaptan. The Philadelphia-based biotech's drug is poised to enter late-stage development for hyponatremia, a condition characterized by a lack of sodium in the bloodstream. The condition can exacerbate CHF. Cardiokine retains co-promotion rights to the drug in the U.S. Phase III trials get underway later this year.
- check out the release for more
- here's the report from the Triangle Business Journal
ALSO: Biogen CFO Peter Kellogg is leaving the company to take the same post at Merck. Release
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