Novartis to add to cardiovascular portfolio with Corthera acquisition

Novartis has boosted its portfolio of cardiovascular medicines by buying the exclusive worldwide rights to relaxin, a recombinant version of a naturally occurring human peptide, through the acquisition of US biopharmaceutical company Corthera.

The Swiss drugmaker will assume full responsibility for the development and commercialisation of relaxin. The company expects to submit relaxin for regulatory approval in Europe and the US in 2013.

Under the terms of the deal, Novartis will acquire Corthera for US$120m. In addition, Corthera's current shareholders will be eligible to receive additional payments of up to US$500m upon reaching clinical milestones, regulatory approval of relaxin and commercialisation targets. The deal is expected to be completed in the first quarter of 2010.

Relaxin, which is administered intravenously, has been shown to cause an increase in cardiac output, systemic and renal vasodilation, which suggests potential benefits for patients with acute decompensated heart failure (ADHF).

"Despite a range of current treatment options, ADHF is the leading cause of hospitalisation in people over age 65 and remains a major clinical challenge with a high and increasing incidence and substantial morbidity and mortality," said Trevor Mundel, global head of development at Novartis. "Relaxin will be an important addition to our expanding pipeline of novel development projects targeting cardiovascular disease."

Novartis will acquire the exclusive worldwide rights for relaxin in all countries except Australia and Canada.