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news.PeriCor Therapeutics has reported that its licensing agreement with Schering-Plough for acadesine, a treatment for surgical complications, has become effective.
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The agreement grants Schering-Plough exclusive worldwide rights for the development and commercialization of PeriCor’s lead compound, acadesine. Financial terms of the transaction were not disclosed.
Acadesine is currently under evaluation in Phase III clinical development as an intravenous infusion for the prevention of adverse cardiovascular and cerebrovascular outcomes that occur as complications associated with ischemia-reperfusion injury in patients undergoing coronary artery bypass graft (CABG) surgery.
The drug has been studied in placebo-controlled trials that enrolled more than 4,000 patients. Schering-Plough will conduct an additional randomized, placebo-controlled Phase III trial needed for regulatory approval. An agent, such as acadesine, that can be shown to reduce the surgical complications of stroke, heart failure and death that can accompany CABG would not only make an important contribution to patients’ well-being, but would also be anticipated to reduce health care costs dramatically, the company says.