The Medicines Company has paid $224 million for Curacyte Discovery and its lead compound, CU-2010, which is being developed for the prevention of surgical blood loss.
Curacyte Discovery is a Leipzig, Germany-based subsidiary of Curacyte, a health sciences company based in Munich.
CU-2010 is a small molecule serine protease inhibitor, which in preclinical studies, demonstrated a favorable pharmacokinetic profile for the surgical setting with a rapid onset and offset of effect, due to its short half life, according to the Parsippany, N.J.-based Medicines. The compound was designed and is being developed to address a medical need that has intensified for clinicians since the recent withdrawal of aprotinin.
Medicines said it expects to commence phase I clinical testing of CU-2010 in 2008. This acquisition gives The Medicines Company an integrated development capability around inhibitors of serine proteases - a drug class that includes bivalirudin (Angiomax), its hospital antithrombotic.
The acquisition of CU-2010 fits with Medicines’ business development strategy—to evaluate both early- and late-stage compounds in critical care medicine, particularly thrombosis and hemostasis, according to Glenn Sblendorio, executive vice president and chief financial officer of Medicines.
“We further anticipate completion of worldwide phase III trials of cangrelor in 2009 and the addition of CU-2010 and other compounds to the development pipeline,” said Clive Meanwell, MD, CEO of Medicines.
On decision by Medicines to progress development of CU-2010 into phase II, a further payment of €10.5 million ($16.2 million) will be made, according to the company. If commercialized, a low, single-digit royalty and a single future commercial milestone will be made.