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news.ARCA biopharma, a developer of genetically-targeted therapies for cardiovascular diseases, has entered into an agreement with Novartis pursuant to which Novartis is acquiring global patent rights to an undisclosed molecular target.
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Under the agreement, ARCA will receive an upfront payment of $2m and is eligible to receive clinical, regulatory and commercial amount totaling $17.5m.
ARCA is also currently seeking business development opportunities for multiple additional compounds in various stages of development which are outside the company’s core focus area of cardiovascular disease.
The business development efforts do not include ARCA’s lead compound, Gencaro (bucindolol hydrochloride), which is being developed for cardiovascular disease and for which the company is seeking strategic partners.
Gencaro (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker being developed for atrial fibrillation and heart failure.