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LONDON: BridgeBio Pharma has granted German pharmaceutical company Bayer an exclusive license to commercialize its heart disease drug in Europe, the companies announced on Monday.
The experimental drug acoramidis is being developed as an oral treatment for transthyretin amyloid cardiomyopathy. In transthyretin amyloid cardiomyopathy, abnormal deposits of a protein called amyloid build up in the heart and can cause organ failure.
BridgeBio will receive up to $310 million, consisting of upfront and short-term milestone payments, as well as additional undisclosed sales milestones.
The U.S. drugmaker will also receive tiered royalties on sales of Acoramizi in Europe, starting in the low 30% range.
“This partnership leverages Bayer’s established European cardiovascular infrastructure and allows us to focus our resources on AccolaMidi’s wholly-owned territory, including preparation for launch in the United States, with significant cost savings.” said Ananth Sridhar, the company’s senior vice president of corporate development. Bridge Bio.
Acolamidis showed significant improvement in patients in a late-stage trial in July. When we measured the prevention of death, prevention of hospitalization, and improvement effects within a 6-minute walk, it was 1.8 times better than a placebo.
U.S. health regulators have set an action date for Nov. 29, and approval in the European Union is expected in 2025.
If approved, the drug is expected to compete with Pfizer’s Vindamax (tafamidis), which is already approved for this disease in the United States. (Reporting by Sriparna Roy in Bengaluru; Editing by Shilpi Majumdar)
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