LIBERTY CORNER, N.J., Feb. 23 /PRNewswire/ -- GeneraMedix, Inc. announced today that it has entered into a definitive agreement to sell its improved formulation of epoprostenol sodium for the intravenous treatment of pulmonary arterial hypertension (PAH) to Actelion LTD., a biopharmaceutical company with its headquarters in Allschwil/Basel, Switzerland. Financial terms of the deal were not disclosed.
"This sale speaks directly to our company's ongoing commitment to serving the unique needs of patients in specialty markets, in this case pulmonary arterial hypertension (PAH)," said Ron Quadrel, CEO, of GeneraMedix, Inc. "I'm also very pleased to conclude this transaction with Actelion, a company that is committed to improving the lives of PAH patients through improved treatment options," added Quadrel.
On June 27, 2008, the U.S. FDA approved Epoprostenol for Injection (1.5 mg/ml vial) for the long-term intravenous treatment of primary pulmonary hypertension and pulmonary hypertension associated with the scleroderma spectrum of disease in NYHA Class III and Class IV patients who do not respond adequately to conventional therapy.
The new formulation of epoprostenol uses non-proprietary diluents, and once reconstituted prior to use, it may be stored for up to 48 hours at 25 degrees Celsius or for five days in the refrigerator at 2-8 degrees Celsius. Global patents have been filed for this new formulation. Actelion will be responsible for global development, registration and commercialization for the product.
"We are very pleased to acquire this innovative product as it builds on our commitment to PAH therapy. Actelion has always led the drive in developing innovative therapies for PAH patients and treating physicians, and we believe this new improved formulation could potentially play a significant role in the management of PAH," stated Jean-Paul Clozel, M.D. and CEO of Actelion.'/>"/>
|SOURCE GeneraMedix, Inc.|
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