Action Pharma, Zealand Pharma, Abbott deal

Abbott will acquire AP214 and related IP from Action Pharma for $110 million in cash. Last year, AP214 met the primary endpoint in a Phase IIb trial to prevent post-surgical kidney injury following cardiac surgery with cardiopulmonary bypass. Abbott plans to start a Phase IIb trial of the alpha-melanocyte-stimulating hormone analog this year in patients with acute kidney injury associated with major cardiac surgery (see BioCentury, Oct. 3, 2011).

The compound was developed using Structure Inducing Probe technology licensed from Zealand Pharma. Action Pharma will pay $11 million to Zealand, which is also eligible for low single-digit royalties. ...