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Pharmaceuticals
Bristol-Myers Squibb To Acquire Cardioxyl
by Ann M. Thayer
November 9, 2015
| A version of this story appeared in
Volume 93, Issue 44
Bristol-Myers Squibb will pay $300 million in cash and up to $1.78 billion in milestone payments to acquire North Carolina-based Cardioxyl Pharmaceuticals. The 10-year-old firm is developing small-molecule drugs for cardiovascular diseases based on scientific work originating at Johns Hopkins University. Cardioxyl’s lead candidate, CXL-1427, is a nitroxyl donor in Phase II clinical development for heart failure. According to BMS, the drug doesn’t just treat symptoms but potentially could change the course of the disease by improving heart muscle and vascular function.
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