CoTherix has also acquired exclusive rights to develop and commercialize oral formulations of Fasudil for the treatment of stable angina in the same territories.
Under the terms of the agreement, CoTherix will make an upfront payment of $8.75 million to Asahi Kasei Pharma, plus development and revenue milestone payments and royalties on future products. CoTherix also has an option to develop Fasudil in North America and Europe for other potential indications using the licensed formulations, with the exception of stroke and eye diseases.
An intravenous formulation of Fasudil was approved in June 1995 in Japan and is marketed by Asahi Kasei Pharma for the prevention of cerebral vasospasm in patients with subarachnoid hemorrhage. Results from in vitro and in vivo studies suggest that rho-kinase inhibitors, such as Fasudil, can reduce vasoconstriction and cell proliferation.
“This agreement represents a significant development and commercial opportunity for CoTherix, as it will augment and extend our current efforts in pulmonary arterial hypertension (PAH) and gives us a solid platform upon which to expand our pipeline as a cardiovascular company,” said Donald Santel, CEO of CoTherix.