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ARTICLE | Company News

BMS acquires Cardioxyl

November 3, 2015 1:15 AM UTC

Bristol-Myers Squibb Co. (NYSE:BMY) will acquire Cardioxyl Pharmaceuticals Inc. (Chapel Hill, N.C.), which is developing cardiovascular therapies including lead candidate CXL-1427. The second-generation prodrug of nitroxyl (HNO) is in a Phase II study to treat heart failure.

Cardioxyl will receive $300 million in combined upfront and near-term milestone payments, and is eligible for $1.78 billion in developmental, regulatory and sales milestones. Cardioxyl declined to disclose additional financial details and BMS did not respond to inquiries. ...