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Medicines Company Acquires Curacyte Discovery

Posted on: Wednesday, 6 August 2008, 12:00 CDT

The Medicines Company has acquired German-based Curacyte Discovery and its lead compound, CU-2010, which is being developed for the prevention of surgical blood loss.

The Medicines Company expects to start Phase I clinical testing of CU-2010 in 2008. This acquisition is said to give The Medicines Company an integrated development capability around inhibitors of serine proteases - a drug class that includes bivalirudin (Angiomax), the company's hospital antithrombotic.

The Medicines Company paid E14.5 million upon signing of the agreement. On decision by The Medicines Company to progress development of CU-2010 into Phase II, a further payment of E10.5 million will be made. If commercialized, a low, single-digit royalty and a single future commercial milestone will be made.

Glenn Sblendorio, CFO of The Medicines Company, said: "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. CU-2010 brings further depth into our existing portfolio of marketed and development products in cardiac critical care."

Source: Datamonitor

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