Hyloris Pharmaceuticals buys global rights to CRD-102 from Baker Institute
Hyloris Pharmaceuticals has acquired the global rights from Australia-based Baker Heart and Diabetes Institute (Baker Institute) to CRD-102, a clinical-stage, extended-release Milrinone capsule.
CRD-102 is being developed for late-stage heart failure (HF) patients who have an implanted left ventricular assist device (LVAD1) and have developed right HF.
According to Hyloris Pharmaceuticals, CRD-102 is the second innovative product candidate that has been added to the company’s portfolio in 2021.
Milrinone is a positive inotrope, a group of heart failure drugs that strengthen the contractions of the heart so that it can pump more blood with lesser heartbeats.
Currently, Milrinone IV is used as an intermittent or continuous infusion for the treatment of up to two days for acute decompensated heart failure.
Stijn Van Rompay — CEO of Hyloris Pharmaceuticals said: “We are very pleased to partner with the Baker Institute and believe that CRD-102 has the potential to dramatically change the lives of patients living with late-stage HF, more notably, patients with an LVAD who have developed right HF, a severe orphan HF indication.
“Earlier studies have demonstrated that treatment with CRD-102 resulted in improved quality of life and functional status of late-stage HF patients, and CRD-102 was well-tolerated with no increased incidences of arrhythmias being reported.
“CRD-102 perfectly fits within our portfolio of value-added cardiovascular products and our strategy for self-commercialization in the U.S. We are now preparing the next stages of development and anticipate the start of the pivotal clinical study in LVAD patients with right HF towards end 2022 or early 2023.”
As per the terms of the agreement, Hyloris Pharmaceuticals will handle the further development, manufacturing, regulatory affairs, and commercialization of CRD-102.
For this, the Belgium-based speciality pharma company will make an upfront payment of $50,000 to the Baker Institute along with sales-based milestone payments and tiered, single to double digit net profit shares in markets where the company plans to self-commercialize CRD-102.
In markets where Hyloris Pharmaceuticals wishes to pursue commercial partnerships, the Baker Institute will stand to get tiered, single to double digit net profit shares on net sub-license income.