Bristol-Myers Squibb to Acquire Cardioxyl Pharmaceuticals, Inc.

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Go back to Bristol-Myers Squibb to Acquire Cardioxyl Pharmaceuticals, Inc.

Bristol-Myers Squibb (BMY) to Acquire Cardioxyl Pharma in up to $1.775B Deal

November 2, 2015 7:00 AM EST

Bristol-Myers Squibb (NYSE: BMY) and Cardioxyl Pharmaceuticals, Inc. announced that the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire all of the issued and outstanding capital stock of Cardioxyl, a private biotechnology company focused on the discovery and development of novel therapeutic agents for the treatment of cardiovascular disease. The acquisition will give Bristol-Myers Squibb full rights to Cardioxyls lead asset CXL-1427, a novel nitroxyl (HNO) donor (prodrug) in Phase 2 clinical development as an intravenous treatment for acute decompensated heart failure (ADHF). The transaction includes upfront and near-term... More