Cardiorentis AG is the fifth company to take on development of ularitide for acute heart failure. Armed with more than €100 million ($129.9 million) from undisclosed investors and expecting to have to do a smaller Phase III program than EMA wanted from ularitide's previous sponsor, Cardiorentis hopes to show the compound can both control symptoms and improve mortality.

"Ularitide went through a few hands and unfortunately did not get developed or get the attention it deserved," Chairman and CEO Elmar Schnee told BioCentury.