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Jan 30, 2008

Nuvelo’s Initiation of Early-Stage Trial Triggers Milestone Payment to Archemix

  • Archemix will receive a $1 million milestone fee from Nuvelo. The payment is a result of Nuvelo’s enrollment of the first volunteer in a Phase I study of NU172, a thrombin-inhibiting aptamer.

    This Phase I trial is being conducted at a single center with approximately 30 males and is designed to determine the safety, tolerability, and pharmacokinetics of escalating doses of the candidate.

    NU172 is an aptamer designed to directly inhibit thrombin’s ability to stimulate blood clot formation, Nuvelo explains. It is being studied for use as a potential short-acting anticoagulant during procedures such as coronary artery bypass graft surgery and percutaneous interventions.

    According to the initial agreement between the firms, Nuvelo is solely responsible for all development and commercialization of NU172. Archemix is eligible to receive additional milestones and will earn royalties. Archemix also retains the option to share in a specified percentage of the profits in exchange for paying an equal percentage of its development and commercialization costs and in lieu of milestone fees and royalties.



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