Cornerstone acquires Cardiokine
US specialty drugmaker Cornerstone Therapeutics (Nasdaq: CRTX) said yesterday that it has acquired Cardiokine, a privately-held specialty pharmaceutical company focused on developing hospital products for cardiovascular indications. The merger, financial terms of which were not revealed, was effective December 30, 2011, said Cornerstone.
Under the terms of the accord, Cornerstone will acquire all outstanding shares of Cardiokine, which is located in Philadelphia. Cardiokine recently completed a series of Phase III clinical trials for its lead compound, lixivaptan for the treatment of hyponatremia, and filed a New Drug Application with the Food and Drug Administration on December 29, 2011. Lixivaptan is an orally active, selective vasopressin 2 receptor antagonist and has the potential to address a large unmet medical need as current treatment options have significant limitations that have impeded adoption by many hospitals.
Lixivaptan hospital market launch expected in 2013
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