Cytokinetics and Bayer ink deal for aficamten in Japan
California, USA-based biotech Cytokinetics (Nasdaq: CYTK) saw its shares fall as much as 4% to $9.67 yesterday, after it announced a deal with Germany’ Bayer (BAYN: DE).
The companies have entered into a collaboration and license agreement for the exclusive development and commercialization of aficamten in Japan for the treatment of patients with obstructive and non-obstructive hypertrophic cardiomyopathy (HCM), subject to certain reserved development rights of Cytokinetics. Aficamten is a next-in-class cardiac myosin inhibitor for the potential treatment of patients with HCM.
Earlier this year, the drug received Breakthrough Therapy designations from the US Food & Drug Administration (FDA), and China’s National Medical Products Administration (NMPA). Aficamten is projected to generate global sales of as much as $1.37 billion by 2031, according to data and analytics company GlobalData.
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