Myogen forms cv drug discovery collaboration with Novartis

US biopharmaceutical company Myogen has entered into a research collaboration with Novartis Institutes for BioMedical Research, an affiliate of Novartis AG, for the discovery and development of novel drugs for the treatment of cardiovascular disease.

In exchange for undisclosed signing fees and research funding for a minimum of three years, Novartis has obtained the exclusive right to license new drug targets and new product candidates developed through the collaboration.

Novartis will fund further development of licensed drug targets and product candidates, make additional milestone payments for each product that is developed as a result of the collaboration and pay Myogen royalties for sales of any products that are successfully commercialised. Myogen has an option to enter into a co-promotion agreement with Novartis for certain markets, subject to reimbursing Novartis for certain costs incurred through the completion of Phase II trials as well as a commensurate portion of future development and marketing costs.

Myogen focuses on the discovery, development and commercialisation of small molecule therapeutics for the treatment of cardiovascular disorders. It currently markets one product in Europe for the treatment of acute decompensated heart failure and is developing three product candidates for three distinct cardiovascular indications. The company also conducts a target and drug discovery research programme focused on the development of disease-modifying drugs for the treatment of chronic heart failure and related cardiovascular disorders.