Archemix and Nuvelo expand cardio collaboration

Under the new agreement, which replaces the existing 50/50 collaboration between the two companies, Archemix will be responsible for the discovery of short-acting aptamers targeting the coagulation cascade for use in acute cardiovascular procedures, and Nuvelo will be responsible for the development and worldwide commercialization of these aptamers.

Under the new collaboration agreement, Nuvelo will make an initial upfront payment to Archemix of $4 million and, under certain circumstances may invest up to $10 million in Archemix’ common stock upon an initial public offering. Nuvelo will also fund Archemix research in the area of short-acting aptamers for the next three years at a minimum of $5.25 million.

In addition, Archemix may receive payments totaling up to $35 million per development compound on the achievement of specified development and regulatory milestones, along with potential royalty payments based on sales of licensed compounds.

As well as expanding its agreement with Archemix, Nuvelo also announced that it has designated NU172 (ARC2172), a short-acting, direct thrombin inhibiting aptamer, as a development candidate.

NU172 is an aptamer that directly inhibits thrombin’s ability to generate fibrin, the protein that provides the scaffolding for blood clots. Data from early animal models suggest that NU172 is a potent anticoagulant that offers the potential for predictable anticoagulant effects, rapid onset and offset of action, reduced bleeding complications and no risk of heparin induced thrombocytopenia. Nuvelo has already commenced investigational new drug application-enabling studies with NU172.