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CyDex Pharmaceuticals Obtains Full Development and Commercialization Rights to Novel Captisol-Enabled(R) Intravenous Formulation of Clopidogrel; Terminating Agreement with Prism Pharmaceuticals, Inc.



10/12/2010 7:37:22 AM

LENEXA, Kan.--(BUSINESS WIRE)-- CyDex Pharmaceuticals, Inc. today announced a mutual decision with Prism Pharmaceuticals to terminate their existing joint development agreement on novel Captisol-enabled® intravenous formulations of clopidogrel. This provides CyDex with full development and commercialization rights to the product candidate – an injectable formulation of clopidogrel. Clopidogrel is the active ingredient in PLAVIX®, an orally available antiplatelet drug, which currently is marketed by Bristol-Myers Squibb Company and Sanofi-Aventis, Inc.

“Obtaining full development and commercialization rights to a rapid onset injectable form of clopidogrel is an important strategic advance for CyDex as we continue to expand our portfolio of innovative products for acute care hospital applications,” said Theron E. Odlaug, CyDex’s president and chief executive officer. “We look forward to establishing a relationship with a strategic outlicensing partner to continue the development of this promising product candidate in the clinic and, after regulatory approval, into the commercial market. We also look forward to building upon our strong relationship with Prism Pharmaceuticals, as they market their Captisol-enabled product Nexterone® for treatment of arrhythmia.”

About CyDex Pharmaceuticals, Inc.

CyDex Pharmaceuticals, Inc. is a specialty pharmaceutical company developing products and licensing its Captisol® technology. Captisol is currently incorporated in five FDA-approved medications and marketed by three of the company’s licensees: Pfizer, Bristol-Myers Squibb and Prism Pharmaceuticals. In addition, the company is supporting drug development efforts with more than 40 other companies worldwide. The company maintains patents in the U.S. and worldwide for its Captisol technology, Captisol manufacturing and Captisol-enabled products, and comprehensive FDA Manufacturing and Safety Drug Master Files. For information on business development opportunities, please contact Richard White at rwhite@cydexpharma.com or 913.685.8850. CyDex is a privately held company located in suburban Kansas City. To learn more about the company, please visit www.cydexpharma.com.

Read at BioSpace.com

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