(NewsVisual, powered by IntellectSpace) -- Since heart disease is the number-one killer in America, the biotechnology company Biogen Inc’s (Nasdaq: BIIB) Thursday morning announcement that it’s researching a new heart drug could galvanize investors’ interest.
In particular, Biogen’s statement said that the company was initiating a Phase III multi-center research study of its drug Lixivaptan.
This experimental drug is under development for congestive heart failure patients who suffer from hyponatremia, a life-threatening condition where patients’ levels of sodium fall to dangerously low levels.
At least a quarter of all patients who experience heart failure suffer from hyponatremia, Biogen said.
Therefore, if it’s eventually approved by the FDA, the market for Lixivaptan could be huge. Likewise, the drug could earn Biogen huge profits in the future.
“We are excited to see Lixivaptan enter into Phase III studies as it is Biogen Idec’s lead cardiology program,” said Biogen Vice President of Cardiology Barry Ticho, M.D., Ph.D, in the company’s statement.
“Lixivaptan has the potential to address significant unmet needs for heart failure patients as well as other clinical conditions associated with hyponatremia,” Ticho added.
The markets appeared to greet Biogen’s announcement favorably, sending its share value up from the previous close of $63.24 to $64.18 in mid-morning trading (10:30am ET).
NewsVisual created an
IntellectSpace Knowledge Map of the Biogen’s
Board of Directors in order to determine whether they are likely to be able to offer its
Management Team sagacious business advice on the development of new medications.
The Knowledge Map shows that nearly every Director at Biogen currently holds significant leadership positions at other corporations, especially in the health and science sectors.
For example, Biogen CEO/President Mullen is a Director at PerkinElmer Inc; Director William Young has board or executive ties to Theravance and Genetech, and he is the CEO/Chairman of Monogram Biosciences.
In addition, Biogen Director Marijin E Dekkers is the CEO/President of ThermoFisher Scientific, and Biogen Director Lawrence C Best has senior leadership experience with Boston Scientific, Ernst & Young and Haemonetics.
(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).
Click here for an interactive version of this IntellectSpace Knowledge Map.
