Launch of stress agent for use in imaging triggered the payment.
CV Therapeutics received $10 million from TPG-Axon Capital with Astellas Pharma’s launch of Lexiscan™. The product, an A2A adenosine receptor agonist, was approved for use as a pharmacologic stress agent in radionuclide MPI (Myocardial Perfusion Imagery) in patients unable to undergo adequate exercise stress on April 10.

On April 15, CV Therapeutics completed a nondilutive financing transaction with TPG-Axon in which the latter company agreed to pay up to $185 million in exchange for 50% of North American royalties on Lexiscan. CV Therapeutics received $175 million on closing of the transaction. CV Therapeutics owns the rights to the compound outside North America. The firm expects to submit an MAA to the EMEA by the end of the year.

Under the original deal with Astellas, CV Therapeutics completed the development program, and Astellas was responsible for all commercial activities for the product in North America.

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