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Amgen (AMGN), Servier Enter Collaboration Over Cardiovascular Disease

July 9, 2013 9:03 AM EDT
Amgen (Nasdaq: AMGN) and Servier announced a new collaboration agreement leveraging each company's commitment to cardiovascular disease.

Under the terms of the agreement, Amgen has obtained commercial rights in the U.S. to Servier's novel oral drug, approved in the EU as Procoralan® (ivabradine), for chronic heart failure and stable angina in patients with elevated heart rates. Amgen has also received an exclusive option to develop and commercialize Servier's investigational molecule, S38844, for cardiovascular diseases in the U.S. Currently, S38844 is in Phase 2 studies for the treatment of heart failure. Through the collaboration, Servier has obtained rights to commercialize omecamtiv mecarbil in Europe. Omecamtiv mecarbil is an activator of cardiac myosin, which is currently being tested for potential applications in the treatment of heart failure in patients with systolic dysfunction.

Both companies can exercise their respective options for the investigational therapies up to completion of certain Phase 2 studies. Under the terms of the agreement, Amgen will make a one-time $50 million upfront payment and future milestone and royalty payments for ivabradine. Financial terms associated with Amgen's option for S38844 and Servier's option for omecamtiv mecarbil were not disclosed.


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