Navigation Links
CV Therapeutics Announces $185 Million Transaction with TPG-Axon Capital for Half of Royalty for Lexiscan(TM) (regadenoson) Injection
Date:4/15/2008

PALO ALTO, Calif., April 15 /PRNewswire-FirstCall/ -- CV Therapeutics, Inc. (Nasdaq: CVTX) announced today that TPG-Axon Capital has agreed to pay CV Therapeutics up to $185 million in exchange for rights to 50 percent of CV Therapeutics' royalty on North American sales of Lexiscan(TM) (regadenoson) injection. CV Therapeutics received $175 million on closing of the transaction and could receive a potential future milestone payment of $10 million.

The U.S. Food and Drug Administration (FDA) approved Lexiscan(TM) (regadenoson) injection, an A2A adenosine receptor agonist, for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging (MPI) in patients unable to undergo adequate exercise stress, on April 10, 2008.

CV Therapeutics retains rights to the other 50 percent of royalty revenue from North American sales of the product, and also may receive a royalty on another Astellas product under the terms of the company's collaboration agreement with Astellas Pharma US, Inc.

"With the funds from this non-dilutive financing and multiple product-related revenue streams, we believe CV Therapeutics now has the funds to become cash flow positive and meet the debt obligation which is putable in 2010, both without requiring capital market financing or partnership dollars," said Louis G. Lange, M.D., Ph.D., chairman and chief executive officer of CV Therapeutics. "We are aggressively pursuing a partner to support Ranexa commercialization and this additional financial independence provides important leverage for managing both the balance sheet and our discussions with potential partners."

CV Therapeutics owns the rights for regadenoson outside of North America and currently expects to submit a marketing a
'/>"/>

SOURCE CV Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. DJO Incorporateds Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review
3. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
4. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
5. Amsterdam Molecular Therapeutics to Release H1 2007 Results on August 29, 2007
6. Nektar Therapeutics Appoints Tim Harkness as Chief Financial Officer
7. ExonHit Therapeutics: Allergan and ExonHits First Collaboration Compound to Begin Human Clinical Trials
8. Cell Therapeutics, Inc. Takes Corrective Actions in Response to Nasdaq Determination
9. Amsterdam Molecular Therapeutics Reports Half Year Results 2007
10. Nektar Therapeutics Appoints Lutz Lingnau as New Board Member
11. Anesiva Grants Specific-Use License of Its Needle-Free Drug Delivery Technology to Particle Therapeutics for Diabetes Drug
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/25/2014)... Albany, New York (PRWEB) July 25, 2014 ... Transparency Market Research, "Biological Drugs Market - Global Industry ... 2020," the global biological drugs market is estimated at ... grow at a CAGR of 10.1% from 2014 to ... million in 2020. , The biological drugs market is ...
(Date:7/25/2014)... July 25, 2014  Galmed Pharmaceuticals Ltd. (Nasdaq: ... on the development and commercialization of a once-daily, oral ... gallstones, today announced financial results for the period ended ... Summary: , Reported cash and cash equivalents totaling ... at December 31, 2013.  , Reported a net ...
(Date:7/24/2014)... July 24, 2014 -- Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) (the ... randomized, active control Phase 3 study of Zerenex (ferric ... for the treatment of hyperphosphatemia in patients with end-stage ... binding and iRon delivery with FErric CiTrate in EsrD) ... the American Society of Nephrology ( JASN ). ...
(Date:7/24/2014)... 2014  Asterias Biotherapeutics, Inc. (OTCBB: ASTYV), a ... regenerative medicine, announced today that it will host ... on Tuesday, July 29, 2014, at 4:30 p.m. ... an overview of Asterias, business strategy and product ... http://www.ustream.tv/channel/asterias-biotherapeutics at least 15 minutes before the ...
Breaking Biology Technology:Biological Drugs Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 2Biological Drugs Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 3Galmed Pharmaceuticals Reports First Half 2014 Financial Results 2Galmed Pharmaceuticals Reports First Half 2014 Financial Results 3Galmed Pharmaceuticals Reports First Half 2014 Financial Results 4Galmed Pharmaceuticals Reports First Half 2014 Financial Results 5Galmed Pharmaceuticals Reports First Half 2014 Financial Results 6Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 2Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 3Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 4Asterias Biotherapeutics Announces Live Investor Webcast 2Asterias Biotherapeutics Announces Live Investor Webcast 3Asterias Biotherapeutics Announces Live Investor Webcast 4
... for the Study of ... DNA-Protein Interactions, ... launch of its Imprint(TM) Chromatin,Immunoprecipitation Kit for epigenetic research,( http://www.sigma.com/chip ... Immunoprecipitation, including columns and reagents,for DNA purification as well as ...
... April 16 Medarex, Inc.,(Nasdaq: MEDX ) ... that suggest a,potential association between higher doses of ... control and prolonged,progression-free survival in patients with relapsed ... 1/2 trial were presented at the,Annual Meeting of ...
... Masimo (Nasdaq:,MASI), the inventor of Pulse CO-Oximetry ... Atom Medical Corporation, a leading global manufacturer ... Rainbow SET Pulse,CO-Oximetry into its current and ... Masimo technology more than 10 years ago, ...
Cached Biology Technology:Sigma(R) Launches Innovative ChIP Kit Technology For Epigenetic Research 2Sigma(R) Launches Innovative ChIP Kit Technology For Epigenetic Research 3Medarex Reports Phase 1/2 Clinical Data of MDX-060 in Lymphoma at American Association for Cancer Research Meeting 2Medarex Reports Phase 1/2 Clinical Data of MDX-060 in Lymphoma at American Association for Cancer Research Meeting 3Atom Medical Adopts Masimo Rainbow SET Technology 2Atom Medical Adopts Masimo Rainbow SET Technology 3Atom Medical Adopts Masimo Rainbow SET Technology 4
(Date:7/25/2014)... Before the colonial era, 100,000s of people lived on ... cultures manipulated fire to control the availability of plants ... tribes continue to use fire to maintain desired habitat ... the U.S. Forest Service,s Pacific Southwest Station, will lead ... National Wildfire Refuge during the Ecological Society of America,s ...
(Date:7/25/2014)... from 25 countries and 35 states will attend ... Genetics Society of America (GSA) next week at ... will feature close to 500 presentations (including 70 ... gene expression and regulation, functional genomics, chemical biology ... a variety of diseases. , Of special ...
(Date:7/25/2014)... (SB) is a complex congenital central nervous system ... of the neural tubes during the embryonic phase. ... and fecal incontinence and neurocognitive retardation. Such problems ... of life. Researchers at Ankara Physical Medicine and ... functional performance in children with SB, using the ...
Breaking Biology News(10 mins):Fire ecology manipulation by California native cultures 2Fire ecology manipulation by California native cultures 3Yeast meeting to showcase latest breakthroughs in genetics and molecular biology 2
... of an fMRI (functional magnetic resonance imaging) technique, ... Medicine have, for the first time, visualized the ... human brain. , Their work, performed at Penn's ... of psychological stress -- which will pave the ...
... some protection to the heart from injury even if ... attack, Jefferson Medical College researchers report. , Walter Koch, ... the Department of Medicine at Jefferson Medical College of ... that the drug Darbepoietin alpha would protect the ischemic ...
... two bacteria that cause significant damage to pig and ... are now analysing the results in an attempt to ... vaccines and diagnostic kits against the bacteria. , Mycoplasma ... pig-breeding industry US$200 million each year. Mycoplasma synoviae is ...
Cached Biology News:Research Permits First-Ever Visualization of Psychological Stress in the Human Brain 2
... Savant SpeedVac Concentrators set the standard for centrifugal ... uses a combination of centrifugal force, heat and ... run., SC110A comes equipped with:, , TEFLON-coated ... , Three ...
... The first SpeedVac to have active, real-time ... SpeedVac System is the worlds first, fully ... can be stacked together to form an ... benchspace. It is also the first SpeedVac ...
... RC Standard Bio for vacuum concentrator/centrifugal ... molecular biology and biochemistry for rapid and ... systems can be expanded with pumps, different ... of rotors (eliminating sample loss by transfer), ...
... dedicated concentrator for efficient drying of small ... integrated system combines the SpeedVac™ Concentrator and ... automatic pump and rotor control, and dual ... heater time), makes the DNA120 indispensable in ...
Biology Products: