clear
Monday November 20th, 2017 6:07PM

Medicure Acquires License to Sell and Market PREXXARTAN® in the U.S. from Carmel Biosciences

By The Associated Press

WINNIPEG, Manitoba & ATLANTA--(BUSINESS WIRE)--Oct 31, 2017--Medicure, Inc. (TSXV:MPH)(OTC:MCUJF) and Carmel Biosciences, Inc. today announced a license agreement to develop and commercialize drugs for the treatment and management of cardiovascular diseases. Specifically, the collaboration will seek to further develop, market, and distribute Carmel’s lead compound, PREXXARTAN ®.

The compound is the first of a class of orally-deliverable reformulation compounds that allow the administration of drugs in a stable oral solution form. Under terms of the agreement, Medicure obtains exclusive rights in the United States and territories to develop, manufacture and market PREXXARTAN ®  for a seven year term, with potential extensions to the term available. Medicure will pay to Carmel milestone payments on achievement of certain objectives from United States net sales revenues. In addition, Carmel will receive royalties on net sales of products resulting from the agreement. Further details of the agreement are not being disclosed.

“The licensing of PREXXARTAN ® fits well with Medicure’s mission of being a significant cardiovascular specialty pharmaceutical company focused on the U.S. market,” commented Medicure’s President and CEO, Albert D. Friesen, PhD. “PREXXARTAN ® will add to Medicure’s revenue in the near term and utilizes the current commercial infrastructure in place for AGGRASTAT ® (tirofiban HCl).”

"As a specialty cardiovascular pharmaceutical company, Medicure is an outstanding and knowledgeable partner for the distribution and commercialization of products such as PREXXARTAN ®," said Bobby V. Khan, M.D., Ph.D., Carmel founder and Executive Director. "We believe this partnership validates the potential of PREXXARTAN ® and our platform to focus on an unmet need—to expand treatment options to patients with hypertension and other cardiovascular diseases."

About Carmel Biosciences

Carmel Biosciences, Inc. is a pharmaceutical company focused on development of small molecules for the management and treatment of cardiovascular diseases. The company is based in Atlanta, Georgia. For more information on Carmel Biosciences, please visit www.carmelbio.com. For more information on Medicure, please visit www.medicure.com.

View source version on businesswire.com:http://www.businesswire.com/news/home/20171031006663/en/

CONTACT: Carmel Biosciences, Inc.

Bobby V. Khan, M.D., Ph.D., 800-355-6421

Executive Director

Fax: 678-927-9031

info@carmelbio.com

www.carmelbio.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA GEORGIA

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY PHARMACEUTICAL

SOURCE: Carmel Biosciences, Inc.

Copyright Business Wire 2017.

PUB: 10/31/2017 07:37 PM/DISC: 10/31/2017 07:36 PM

http://www.businesswire.com/news/home/20171031006663/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Industries, AP Business - Health Care
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Bayern advances in Champions League with 2-1 win at Celtic
Bayern Munich qualified for the Champions League knockout stage with two games to spare and eliminated Celtic with a 2-1 win over the Scottish champion sealed by Javi Martinez's 77th-minute goal
7:41PM ( 10 minutes ago )
Georgia, Alabama, Notre Dame, Clemson top 1st CFP rankings
Georgia, Alabama, Notre Dame and Clemson are the top four teams in the first College Football Playoff rankings of the season
7:40PM ( 11 minutes ago )
United beats Benfica 2-0 after more agony for keeper Svilar
Manchester United sealed its fourth straight win in the Champions League group stage by beating Benfica 2-0 thanks to another moment to forget for teenage goalkeeper Mile Svilar
7:37PM ( 14 minutes ago )
Associated Press (AP)
Senators blast Facebook, Twitter, Google in Russia probe
Exasperated U.S. senators are harshly criticizing representatives of Facebook, Twitter and Google for not doing more to prevent Russian agents interfering with the American political process as early as 2015
7:19PM ( 33 minutes ago )
The Latest: New GOP tax plan retains 39.6 percent rate
House Republican leaders are expected to unveil a tax proposal Wednesday that would maintain the 39.6 percent top personal income tax rate
7:16PM ( 35 minutes ago )
Catalan leader takes his separatism fight to Europe's heart
Facing possible criminal charges at home, ousted Catalan regional president Carles Puigdemont has taken his bid for secession from Spain to the heart of Europe
7:12PM ( 40 minutes ago )
AP Business
The Latest: Actor claims Spacey tried to fondle him in UK
A relatively little-known Mexican actor is saying Kevin Spacey fondled or tried to fondle him against his will
6:04PM ( 1 hour ago )
Trump predicts passage of tax plan by Christmas
President Donald Trump is predicting that he will sign his tax overhaul by Christmas in the "biggest tax event in the history of our country."
5:39PM ( 2 hours ago )
Under Armour, faltering, cuts its outlook and shares plunge
Under Armour, faltering, posts lower revenue and cuts its outlook again, shares plunge
5:14PM ( 2 hours ago )
AP Business - Corporate News
Gas prices decreasing in Georgia
The average gas price in Georgia has decreased more than 30 cents over the past month.
7:50AM ( 2 weeks ago )
Collapsed interstate bridge in Georgia reopens to traffic
A key section of interstate highway through Atlanta has partially reopened, six weeks after a highway bridge collapsed because of a large fire.
7:41PM ( 5 months ago )
Cagle promises 500,000 new jobs in Georgia governor campaign
Casey Cagle will launch his campaign for governor on Sunday with a pledge to add half a million new jobs in Georgia in four years if voters choose him to replace term-limited Gov. Nathan Deal.
12:11PM ( 6 months ago )
AP Online - Georgia News
AP Business Wire - Georgia
Trick-or-treating delayed amid cleanup after Northeast storm
A Northeast storm that knocked down trees and power lines has put a hold on Halloween festivities while utility crews work to restore electricity throughout New England
5:21PM ( 2 hours ago )
Stocks edge up: S&P 500 closes in on eighth month of gains
U.S. stock indexes held steady in early trading on Tuesday following strong earnings reports from the makers of Kellogg's cereal, Oreo cookies and others
3:37PM ( 4 hours ago )
FEMA chief says agency didn't approve Whitefish contract
The head of the Federal Emergency Management Agency told Congress that officials there had nothing to do with approving a pricey no-bid contract to restore the power grid in Puerto Rico
3:35PM ( 4 hours ago )
AP Business - Industries
Pfizer beats 3Q profit forecasts
Pfizer tops 3Q net income expectations, meets revenue forecasts
7:16AM ( 12 hours ago )
Tech giants lead rally as stocks near records; Amazon surges
US stocks set more records as major technology companies like Microsoft and Google parent company Alphabet lead the charge after they reported strong quarterly results
5:02PM ( 4 days ago )
3 reasons why CVS would want to buy health insurer Aetna
Analysts say a CVS-Aetna combination would create a health colossus that can reach deeper into the average customer's life to manage care and cut costs
4:30PM ( 4 days ago )
AP Business - Health Care
Bayern advances in Champions League with 2-1 win at Celtic
Bayern Munich qualified for the Champions League knockout stage with two games to spare and eliminated Celtic with a 2-1 win over the Scottish champion sealed by Javi Martinez's 77th-minute goal
7:41PM ( 11 minutes ago )
NPR chief placed on leave after sex harassment accusations
News chief at NPR, Michael Oreskes, is latest media figure to faces charges of impropriety
7:31PM ( 21 minutes ago )
8 killed by New York motorist in 'cowardly act of terror'
Authorities say a man in a rented pickup truck drove onto a busy bicycle path near the World Trade Center memorial Tuesday, killing at least eight people in what the mayor called "a particularly cowardly act of terror."
7:30PM ( 21 minutes ago )
Pruitt guts EPA science panels, will appoint new members
The head of the EPA says he will replace the panels that advise him on science and public health issues with new members holding more diverse views
7:28PM ( 24 minutes ago )
The Latest: Trump vows support for NYC police after attack
President Donald Trump is vowing his administration's "full support" to New York City's police department in the wake of what he's calling a "cowardly" terrorist attack
7:27PM ( 24 minutes ago )