The Medicines Company (NASDAQ: MDCO) today announced that it has
acquired German-based Curacyte Discovery GmbH and its lead compound,
CU-2010, which is being developed for the prevention of surgical blood
loss.
CU-2010 is a small molecule serine protease inhibitor. In preclinical
studies, the compound has demonstrated a favorable pharmacokinetic
profile for the surgical setting with a rapid onset and offset of
effect, due to its short half life. The molecule was designed and is
being developed to address a significant unmet medical need that has
intensified for clinicians since the recent withdrawal of aprotinin. The
Medicines Company expects to commence Phase I clinical testing of
CU-2010 in 2008. This acquisition gives The Medicines Company an
integrated development capability around inhibitors of serine proteases –
a drug class that includes bivalirudin (Angiomax), the Company’s
leading hospital antithrombotic.
“The acquisition of CU-2010 fits within our
focused business development strategy—which is
to evaluate both early- and late-stage compounds in our core area of
expertise, critical care medicine, particularly thrombosis and
hemostasis,” stated Glenn Sblendorio,
Executive Vice President and Chief Financial Officer of The Medicines
Company. “CU-2010 brings further depth into
our existing portfolio of marketed and development products in cardiac
critical care.”
The Medicines Company continues to focus on advancing the treatment of
critical care patients through the delivery of innovative,
cost-effective medicines to the worldwide hospital marketplace.
“We are transitioning to a company with
multiple sources of revenue. Angiomax continues to grow in the United
States; we anticipate increased uptake in Europe in 2009 based on new
labeling and trials data; and with the approval of Cleviprex in the
U.S., we have strengthened our outlook considerably. We further
anticipate completion of worldwide Phase III trials of cangrelor in 2009
and the addition of CU-2010 and other compounds to the development
pipeline, provides more long term growth potential”
said Clive Meanwell, M.D., CEO. “We are also
pleased to demonstrate our commitment to investments in medical science
in Germany – one of the world’s
most innovative and important hospital critical care markets –
where Angiox and our other compounds can establish our presence strongly.”
Financial Impact of Transaction
The Medicines Company paid €14.5 million upon
signing of the agreement.
