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Adenosine Therapeutics Engages Needham & Company to Explore Strategic Options for Phase III Cardiac Stress Agent
Date:4/1/2013

CHARLOTTESVILLE, Va., April 1, 2013 /PRNewswire/ -- Adenosine Therapeutics, LLC, a drug discovery and development company founded in 1999, announced today that it has engaged Needham & Company to explore strategic options for Stedivaze®, a highly selective adenosine A2A agonist being developed as a pharmacological stress agent for use in Myocardial Perfusion Imaging.

"We are seeking regional or global collaborators to rapidly conclude our Phase 3 clinical trials, which are more than halfway complete, and to pursue the approval, distribution, and marketing of Stedivaze®," said Adenosine Therapeutics Co-Founder and CEO Robert Capon . "Clinical trial data to date suggests Stedivaze® has the potential to demonstrate equivalent efficacy, compared to the standard of care, plus best-in-class product attributes, with the potential to expand the market for Cardiac Stress Agents."

"Stedivaze® has a strong patent estate with a long life," continued Robert Capon , "The pharmacological stress agent market is established, large (presently over $700 million in the United States), and growing. We believe that, with its potential best-in-class product characteristics, strong patent estate, and a large and growing market, that Stedivaze® represents an exceptional opportunity for the right partner. We are pleased to be working with Needham and Company to find such partner for this late-stage Specialty Pharma opportunity."

Adenosine Therapeutics, LLC is a drug discovery and development company founded in 1999. Adenosine Therapeutics holds the exclusive, worldwide license to the investigational compound apadenoson, the active pharmaceutical ingredient of Stedivaze®. The company re-acquired the exclusive, worldwide license to Stedivaze® on December 31, 2012. Two Phase 3 clinical trials for Stedivaze® are
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SOURCE Adenosine Therapeutics, LLC
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