BioCentury
ARTICLE | Company News

Cardiokine, Cornerstone Therapeutics deal

January 9, 2012 8:00 AM UTC

Cornerstone acquired cardiovascular disease company Cardiokine. Cardiokine shareholders will receive $27.3 million in cash up front and will be eligible for up to $137 million in sales milestones for hyponatremia compound lixivaptan, plus 8% or 12% royalties, depending on labeling. Cardiokine submitted an NDA to FDA for lixivaptan late last year and it hopes to receive approval of the selective vasopressin V2 receptor antagonist in 1Q13. Cornerstone said the label could include claims for euvolemic hyponatremia, in which case Cardiokine would receive the larger share of royalties, or for the narrower indication of hypervolemic hyponatremia, in which case it would receive the lower amount. According to Cornerstone, euvolemic hyponatremia can be a side effect of other medication or normal changes in the body's metabolism, while hypervolemic hyponatremia is associated with diseases such as congestive heart failure. ...