PeriCor, Schering-Plough enter deal |
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Mon, 20 Aug 2007 20:52
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NEW YORK (AP) - Privately-held PeriCor Therapeutics Inc. said Monday that a licensing agreement with Schering-Plough Corp. for a heart drug has become effective.The deal, terms of which were not revealed, grants Schering-Plough exclusive worldwide rights for the development and commercialization of PeriCor's lead candidate, acadesine.PeriCor, a clinical-stage specialty biopharmaceutical company, focuses on developing new therapies to protect threatened heart muscle in surgical settings.Acadesine is in late-stage clinical development as an intravenous infusion, meaning the medicine is injected into a vein. Acadesine is designed to reduce surgical complications including stroke, heart failure and death, in patients undergoing coronary artery bypass graft surgery, also known as CABG.CABG is the most commonly performed open heart operation in the United States, according to the Society of Thoracic Surgeons.Schering-Plough will conduct an additional Phase III trial needed for regulatory approval, PeriCor said.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Schering-Plough Announces Licensing of Acadesine from PeriCor 