In addition, Elixir has an exclusive worldwide license for use of Myolimus in fully biodegradable stents.
Myolimus, a macrocyclic lactone in the same family as Rapamycin, has demonstrated impressive versatility, stability and a broad therapeutic index, said Elixir.
Elixir observed positive results from evaluating the safety and effectiveness of Myolimus for the prevention of restenosis through extensive preclinical testing including in vivo animal studies and in vitro testing conducted over the past several years.
Elixir has completed three separate first-in-man clinical studies evaluating the therapeutic effectiveness of the company’s Myolimus-eluting coronary stent systems. These studies used the company’s proprietary stent platform and three proprietary polymer technologies.
Motasim Sirhan, CEO of Elixir Medical, said: “The license agreement with Novartis Pharma for Myolimus enhances our capabilities to develop innovative product platforms for our physicians and patients. We also intend to utilize Myolimus in a broad range of site-specific drug-delivery therapeutic applications including a fully biodegradable stent program.”