Aeolus Pharmaceuticals has received $175,000 from ARCA Biopharma, a cardiovascular-focused company.
In 2003, CPEC, a limited liability company owned by Aeolus (35 percent) and Indevus Pharmaceuticals (65 percent), out-licensed all rights to a potential therapeutic compound, bucindolol, to ARCA. The cash payment received by Aeolus is based upon Aeolus’ ownership interest in CPEC.
The Laguna Niguel, Calif.-based Aeolus said the payment was triggered by the FDA’s acceptance of a new drug application for ARCA's product candidate, bucindolol, an investigational and pharmacologically beta-blocker and mild vasodilator developed for the treatment of chronic heart failure. If approved by the FDA, bucindolol would be a genetically targeted cardiovascular therapy.