BioCentury
ARTICLE | Company News

Cardiome, Merck deal

March 26, 2012 7:00 AM UTC

Cardiome said Merck discontinued development of the oral formulation of atrial fibrillation (AF) product vernakalant. According to Cardiome, Merck based the decision on an assessment of the regulatory environment and projected development timeline. As a result, Cardiome plans to reduce its annual operating cash burn by about half to a target of $11 million, before interest expenses. Cardiome said it has $65-$70 million in cash.

Phase III studies of oral vernakalant were expected to start in 2010, but Merck subsequently delayed the trials' start. Last year, Merck conducted additional Phase I testing of the controlled-release formulation of mixed ion channel antagonist and planned to start a Phase II trial in late 2012 (see BioCentury, Jan. 3, 2011). ...