Curacyte AG today announced that it has sold its wholly owned
subsidiary, Curacyte Discovery GmbH based in Leipzig (Germany) to The
Medicines Company (NASDAQ: MDCO). Curacyte Discovery is engaged in the
development of synthetic serine protease inhibitors in the area of
hemostasis and anti-coagulation. Its rationally-designed lead
development candidate, CU-2010, is being developed for preventing
surgical blood loss. It is scheduled to enter Phase I clinical
development by the end of 2008.
Curacyte AG and its wholly owned subsidiary Apex Bioscience (Chapel
Hill, NC, USA) will continue to develop its lead product hemoximer (Pyridoxalated
Hemoglobin Polyoxyethylene,
PHP) in a Phase III pivotal trial in patients suffering from
catecholamine-resistant distributive shock.
Curacyte received a payment of € 14.5 million
upon signing of the agreement. In addition, Curacyte will be eligible to
receive a payment of € 10.5 million when The
Medicines Company progresses CU-2010 into Phase II clinical development
as well as future commercial milestone and royalty payments.
“We are very proud of The Medicines Company
acquiring Curacyte Discovery and thereby acknowledging what we have
built and developed over the past years. At The Medicines Company,
Curacyte Discovery will be embedded in and complement a fully integrated
value chain with direct access to the critical care markets.”
said Dr. Helmut Giersiefen, CEO of Curacyte AG. He further stated that “the
transaction will help the parent company, Curacyte AG, to focus on fully
developing its key product, hemoximer, in a pivotal Phase III study in
distributive shock.”
Curacyte is currently initiating the Phase III study which will be
conducted in patients suffering from distributive shock and not
responding to standard therapy in form of catecholamines. Worldwide,
more than 2 million patients suffer from distributive shock per annum.
Recent clinical data suggests that more than 50% of these patients do
not respond to catecholamines, e.g., norepinephrine, the only therapy to
treat shock. Non-responders have only a 20% chance to survive this
serious condition with no alternative treatment option. The Phase III
study is expected to last for two years and is planned to be conducted
in the Europe and the United States.
About Curacyte
Curacyte Discovery GmbH, is a wholly-owned subsidiary of Curacyte AG.
