Biogen Idec, Cardiokine Partner on Late-Stage Drug

Biogen Idec and Cardiokine, Inc. have signed an agreement to jointly develop lixivaptan, an oral compound expected to enter a Phase III trial this year for the treatment of hyponatremia in patients with congestive heart failure (CHF).

Lixivaptan is a selective V2 vasopressin receptor antagonist that has demonstrated promising activity in treating hyponatremia, an imbalance of sodium and water in the body. Lixivaptan works by causing water to be excreted from the kidney, without affecting sodium or other electrolytes. In heart failure patients, hyponatremia is associated with volume overload, a key symptom leading to hospitalization. Hyponatremia is an important feature of other disorders including liver cirrhosis and syndrome of inappropriate antidiuretic hormone (SIADH), and can contribute to morbidity and negative outcomes.

Under terms of the agreement, Cardiokine will receive a $50 million upfront payment and as much as $170 million in additional milestone payments for successful development and commercialization of lixivaptan, as well as royalties on commercial sales. Biogen will be responsible for commercialization of lixivaptan and Cardiokine will have an option for co-promotion in the U.S.

“With this late-stage oral compound, we continue to leverage our global development and specialty market expertise to grow our business and broaden our therapeutic focus. An effective treatment for hyponatremia could be beneficial to patients with a variety of diseases, including heart failure,” said James C. Mullen, Biogen Idec’s president and chief executive officer. “This program will expand our efforts in cardiovascular care and we look forward to working with Cardiokine to deliver this promising new product for patients.”