The companies say lixivaptan is a selective V2 vasopressin receptor antagonist that, in clinical trials, has demonstrated promising activity in treating hyponatremia, an imbalance of sodium and water in the body. The drug is expected to enter a phase III clinical trial this year.
Lixivaptan works by causing water to be excreted from the kidney, without affecting sodium or other electrolytes. Particularly in heart failure patients, hyponatremia is associated with volume overload, a key symptom leading to hospitalization.
“An effective treatment for hyponatremia could be beneficial to patients with a variety of diseases, including heart failure,” said James Mullen, Biogen Idec’s president and CEO.
Under terms of the agreement, Cardiokine will receive a $50 million upfront payment and up to $170 million in additional milestone payments for successful development and global commercialization of lixivaptan, as well as royalties on commercial sales.
Biogen Idec will be responsible for the global commercialization of lixivaptan and Cardiokine will have an option for limited co-promotion in the US. The agreement is expected to become effective in the third quarter of 2007, subject to regulatory approvals.