Myogen sells off European subsidiary

Published: 3-Feb-2006

Myogen, a Colorado, US-based biopharmaceutical company, has agreed a deal to sell Myogen GmbH, its wholly-owned European subsidiary, and the sublicence of its rights to manufacture and commercialise Perfan IV (intravenous enoximone) in markets outside North America to Wulfing Holding GmbH.


Myogen, a Colorado, US-based biopharmaceutical company, has agreed a deal to sell Myogen GmbH, its wholly-owned European subsidiary, and the sublicence of its rights to manufacture and commercialise Perfan IV (intravenous enoximone) in markets outside North America to Wulfing Holding GmbH.

Wulfing will pay Myogen around $6.1m on or prior to 10 February along with a royalty on future net sales of Perfan IV, which is indicated for the treatment of acute decompensated heart failure. The company will also receive rights to unspecified Perfan IV trademarks and all existing inventories of Perfan IV finished product.

'The sale of Myogen GmbH allows us to focus on the strategic requirements of our development-stage assets, ambrisentan and darusentan, while bringing in additional financial resources to support these activities,' said John R Julian, Myogen's senior vice president of commercial development.

Ambrisentan, currently in phase III development, is indicated for the treatment of pulmonary arterial hypertension (PAH). Darusentan, currently in phase II, is indicated for the treatment of resistant hypertension.

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