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ARCA Biopharma, Inc.
Drug Names(s): bucindolol hydrochloride
Description: Bucindolol is a nonselective beta-adrenergicblocker with additional 1-adrenoceptor blocking activity (the latter causing mild vasodilation). The company is targeting use of the drugs in patients with specific genetic profiles.
Deal Structure: Bucindolol was originally developed by Bristol-Myers Squibb until 1989, when the drug was licensed to the Cardiovascular Pharmacology and Engineering Consultants (CPEC), which is jointly owned by Incara and Indevus.
In November 2003, Incara (now Aeolus) and Indevus announced the outlicensing of bucindolol to ARCA Discovery. Terms of the license call for future royalty and milestone payments to CPEC upon the development of bucindolol.
In January 2009, Endo Pharmaceuticals and Indevus Pharmaceuticals announced that they have entered into a merger agreement under which Endo will commence a tender offer to acquire 100 percent of the outstanding shares of Indevus for approximately $370 million, or $4.50 per Indevus share, in cash, and up to an additional approximately $267 million, or $3.00 per Indevus share, in cash payable in the future upon achievement of certain regulatory and sales milestones.
In February 2009, Endo Pharmaceuticals announced the completion of the tender...See full deal structure in Biomedtracker
Partners: Endo International plc Aeolus Pharmaceuticals, Inc.
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