Bristol-Myers Squibb (New York) and Corgentech (South San Francisco, California), a privately held biotechnology company, have entered into an agreement to jointly develop and commercialize Corgentech's E2F Decoy (edifoligide sodium), a first-of-its-kind E2F Decoy treatment currently in Phase III development for the prevention of vein graft failure following coronary artery bypass graft (CABG) and peripheral artery bypass graft surgery. Under terms of the deal, Bristol-Myers Squibb will make an initial payment to Corgentech of $45 million comprising cash and an equity investment in Corgentech, with the potential for an additional $205 million in clinical and regulatory milestone payments. Bristol-Myers Squibb and Corgentech will share development costs in the U.S. and Europe going forward based on a pre-agreed percentage allocation. In the U.S., the parties will co-promote E2F Decoy and share profits. Bristol-Myers Squibb has exclusive rights in all other countries and will pay Corgentech a royalty on its sales. E2F Decoy is currently being evaluated in two Phase III clinical trials. The FDA has granted E2F Decoy fast-track status for both coronary and peripheral indications.
Predictive medicine company IMI International Medical Innovations (Toronto, Ontario) has signed a collaborative research agreement with AtheroGenics (Alpharetta, Georgia). IMI's cardiovascular risk assessment test, Cholesterol 1,2,3, will be added to AtheroGenics' international ARISE trial, providing IMI with primary event data and broad exposure to cardiac centers around the world. The ARISE study (Aggressive Reduction of Inflammation Stops Events) will be conducted in more than 180 cardiac centers throughout the U.S., Canada, the UK and South Africa. It is a Phase III study designed to evaluate the impact of AGI-1067, an oral anti-inflammatory agent developed by AtheroGenics to target atherosclerosis. The study will enroll 4,000 patients who will be followed for an average of 18 months or until a minimum of 1,160 primary events have occurred, such as heart attack or stroke. Cholesterol 1,2,3 is the world's only non-invasive test system for cholesterol. The test measures cholesterol in the skin, by placing two drops of liquid on the palm of the hand and generating a color-change reaction. As cholesterol accumulates on artery walls it also accumulates in other tissues, including skin. High levels of skin cholesterol are correlated with higher incidence of coronary artery disease.
Moore Medical (New Britain, Connecticut), a multi-channel specialty marketer and distributor of medical, surgical and pharmaceutical products to healthcare professionals in non-hospital settings, has entered into a multi-year agreement with Health Professionals Ltd. (HPL; Peoria, Illinois), an outsource provider of on-site healthcare to state prisons and county jails. Under the agreement, which runs through 2006, Moore Medical will provide support and procurement services to correctional facilities managed by HPL nationwide. Moore Medical will offer direct access to its catalog of medical, surgical and pharmaceutical products used by healthcare professionals serving the corrections industry. Moore Medical provides an extensive line of healthcare products, including hundreds of items specially designed for inmate patient care and secured clinical environments.
Oxford Health Plans (Trumbull, Connnecticut) reported a new five-year agreement with American Healthways (Nashville, Tennessee), the nation's largest provider of disease management and care enhancement services. In addition to providing continued support to Oxford members with congestive heart failure (CHF), American Healthways will work with Oxford to jointly support members with diabetes and coronary artery disease (CAD). The new agreement is effective immediately. The contract calls for American Healthways to reach out to more than 85,000 Oxford members with CHF, CAD and diabetes, and enroll them in this voluntary care enhancement program. American Healthways will concentrate on the sickest subset in each disease class, providing extensive outreach to these members, primarily providing intervention and education by phone. Oxford will continue to support those members not in the sickest subset through its internal disease management initiatives. Oxford Health Plans provides health plans to employers in New York, New Jersey and Connecticut.
Quinton Cardiology Systems (Bothell, Washington) and QRS Diagnostic (Plymouth, Minnesota), a maker of software-based medical devices contained on computer cards, jointly announced a strategic partnership under which Quinton will sell several QRS devices for cardiopulmonary diagnosis under the Burdick brand name. Burdick, a Quinton subsidiary since January, is a provider of cardiology products and is widely recognized for its strong distribution network focused on physicians' offices. Burdick will sell QRS PC card devices, including Universal ECG, SpiroCard and SpirOxCard, as well as the Sensaire hand-held spirometer, beginning in 3Q03. Quinton Cardiology Systems develops diagnostic cardiology systems used in the diagnosis, treatment and rehabilitation of patients with cardiovascular disease.