Under the agreement, Bristol-Meyers will obtain access to the private company's therapeutics for the treatment of heart diseases including its leading product CXL-1427, a second-generation nitroxyl (HNO) donor. CXL-1427 is currently in Phase 2 testing for the treatment for acute decompensated heart failure (ADHF).
CXL-1427 is given as an intravenous treatment and works by releasing the molecule nitroxyl, which has proven to help heart muscle and vascular function.
While current therapies for ADHF cause an increase in heart rate and/or oxygen consumption, clinical trials have demonstrated that CXL-1427 boosts heart muscle function without increasing a person's heart rate or need for oxygen.
"The acquisition of Cardioxyl strengthens Bristol-Myers Squibb’s heart failure pipeline with a Phase 2 asset that has the potential to change the course of the disease rather than simply treating the symptoms,” Bristol-Myers Squibb Executive Vice President and Chief Scientific Officer Francis Cuss said. “Bristol-Myers Squibb is uniquely positioned, with our understanding of patient needs in the hospital setting and our heritage in cardiovascular diseases, to continue development of CXL-1427 as a potential new therapy to address the clinical and economic burden of heart failure.”
Bristol-Myers will pay up to $300 million upfront to acquire Cardioxyl and an additional $1.78 billion if they reach certain milestones in terms of development, regulatory approval and sales.
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