Astra Merck and Intercardia Announce Agreement to Develop and Market Heart Failure Medication.--(HealthWire)--December 5, 1995--Astra Merck Inc. and Intercardia, Inc., a majority owned subsidiary of Interneuron interneuron /in·ter·neu·ron/ (-noor´on) 1. a neuron between the primary sensory neuron and the final motoneuron. 2. Pharmaceuticals, Inc. (Nasdaq: IPIC IPIC Intellectual Property Institute of Canada IPIC Indianapolis Private Industry Council IPIC International Petroleum Investment Co (Abu Dhabi) IPIC Inventory Price Index Computation IPIC Information Processing Interagency Conference ), announced today an agreement for the U.S. development and marketing of bucindolol, a cardiovascular drug under development for the treatment of moderate-to-severe congestive heart failure congestive heart failure, inability of the heart to expel sufficient blood to keep pace with the metabolic demands of the body. In the healthy individual the heart can tolerate large increases of workload for a considerable length of time. (CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). Bucindolol is a non-selective third-generation beta blocker Beta blocker A drug that can be used to reduce blood pressure. Mentioned in: Mitral Valve Stenosis beta blocker Beta-adrenergic blocking agent Pharmacology Any of a class of agents that blocks β1 with mild vasodilating properties which is presently in advanced development. In Phase II clinical trials, bucindolol has been found to produce improvements in left ventricular function ventricular function, n the cyclic contraction and relaxation of the ventricular myocardium. and in the signs and symptoms of CHF. The National Institutes of Health (NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. ) and Veterans Administration (VA) in June 1995 began a Phase III trial of bucindolol -- the Beta-blocker Evaluation of Survival Trial (BEST) -- to determine if the drug can reduce mortality in patients with CHF. The BEST trial may include up to 2,800 patients with moderate-to-severe CHF at 90 centers throughout the U.S. Congestive heart failure is a condition in which the ability of the heart to pump blood in quantities sufficient to meet the demands of the body progressively diminishes. It is estimated that over three million people in the U.S. have CHF and 200,000 die from it every year. It is the most common reason for hospitalization in patients over the age of 65 in the U.S. Wayne P. Yetter, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Astra Merck stated, "Our agreement to market bucindolol underscores our commitment to providing important cardiovascular advances for patients with serious conditions such as CHF. Based on early clinical results, we believe bucindolol will be a significant advancement in treating CHF." "We are pleased to be developing bucindolol with a partner possessing the expertise and presence of Astra Merck," stated Clayton I. Duncan, Intercardia's President and CEO. "The cooperative spirit in which they approached working together, combined with their marketing capabilities and reputation in cardiovascular medicine were important factors in selecting Astra Merck as our partner." "This agreement further exemplifies Interneuron's strategy of diversification within the healthcare field through its subsidiaries," said Glenn L. Cooper, M.D., President and CEO of Interneuron. "Intercardia's agreement with Astra Merck provides access to the funding, product development and marketing capabilities of a major pharmaceutical company." Astra Merck made a $5 million payment to Intercardia upon execution of the agreement and will make additional payments upon the achievement of milestones. The two companies will share development and initial marketing costs for bucindolol in the U.S., and Astra Merck will pay royalties to Intercardia on net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of bucindolol. Astra Merck, previously a unit of Merck & Co., was reorganized as a separate company on November 1, 1994, owned equally by Merck and Astra AB of Sweden. The company markets the cardiovascular drugs Plendil(R) (felodipine) and Tonocard(R) (tocainide HCl tocainide HCl (tōkā´nīd), n brand name: Tonocard; drug class: antidysrhythmic (Class IB), lidocaine analog; action: ), and the anti-secretory medication Prilosec(R) (omeprazole). Intercardia, Inc., focuses on late-stage discovery and development of therapeutics for the treatment of cardiovascular and pulmonary disease. Intercardia's strategy is to develop and add value to in-licensed products and sponsored research and to enter into joint ventures with corporate partners for final development, manufacturing and marketing. Interneuron Pharmaceuticals, Inc., is engaged in the development and commercialization of innovative pharmaceutical products for neurological and behavioral disorders. Through three other subsidiaries, Progenitor pro·gen·i·tor n. 1. A direct ancestor. 2. An originator of a line of descent. progenitor ancestor, including parent. progenitor cell stem cells. , Inc., Transcell Technologies, Inc., and InterNutria, Inc., Interneuron is developing products and technologies related to gene therapy, carbohydrate-based drug discovery, drug transport and nutritional products. CONTACT: Intercardia: W. Bennett Love 919-558-1907 or Astra Merck: Gary M. Bruell 610-695-1554 or Interneuron: William B. Boni 617-861-8444, ext. 606 |
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