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ARCA Biopharma, Inc.
Drug Names(s): ARC2172
Description: NU172 is an aptamer that directly inhibits thrombin's ability to generate fibrin, the protein that provides the scaffolding for blood clots. It is delivered intravenously. Aptamers are chemically synthesized single-stranded nucleic acids that form well-defined three-dimensional shapes, allowing them to bind target molecules in a manner that is conceptually similar to antibodies. Characteristics of aptamers include high specificity and affinity, and the ability to target protein-protein interactions.
Deal Structure: In August 2006, Archemix and Nuvelo announced that the Companies have expanded their original collaboration agreement established in January 2004. Under the new agreement, which replaces the existing 50/50 collaboration, Archemix will be responsible for the discovery of short-acting aptamers targeting the coagulation cascade for use in acute cardiovascular procedures, and Nuvelo will be responsible for the development and worldwide commercialization of these aptamers.
Under the new collaboration agreement, Nuvelo will make an initial upfront payment to Archemix of $4.0 million and, under certain circumstances may invest up to $10.0 million in Archemix's common stock upon an initial public offering. Nuvelo will also fund Archemix research in the area of short-acting aptamers for the next three years at a minimum of $5.25 million. In addition, Archemix may receive payments totaling up to $35.0 million per development compound on the achievement of specified development and...See full deal structure in Biomedtracker
Partners: Archemix Corp.
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