Amgen Obtains Cardiovascular Program for $50M from Cytokinetics
Option excludes Japan and covers a Phase II drug candidate.!--h2>
Amgen exercised its option covering Cytokinetics' cardiac contractility program. The company will pay $50 million for worldwide rights excluding Japan, which covers mid-stage candidate CK-1827452. Cytokinetics stands to earn up to $600 million in precommercialization and commercialization milestones.
Under the terms of the companies' January 2007 collaboration and option agreement, Amgen will assume responsibility for development and commercialization of CK-1827452 and related compounds at its expense. Cytokinetics received $42 million at the start of the collaboration plus a $33 million equity investment.
The firm will receive royalties that escalate based on annual net sales. Cytokinetics could receive increased royalties by sharing certain Phase III development costs. In that case, Cytokinetics could co-promote products in North America and would have an agreed role in commercialization activities in North America.
CK-1827452 is in multiple Phase I and Phase IIa trials to evaluate the safety, tolerability, pharmacodynamics, and pharmacokinetic profile of both intravenous and oral formulations for the treatment of heart failure across the continuum of care, in both hospital and outpatient settings.
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Two Phase IIa trials of CK-1827452 have been completed: in patients with stable heart failure and in patients with ischemic cardiomyopathy and angina. Two Phase IIa studies of CK-1827452 are ongoing: in patients with stable heart failure undergoing coronary angiography and a comparison of oral pharmacokinetics of both a modified-release and an immediate-release formulation in patients with stable heart failure.