BioCentury
ARTICLE | Company News

Abbott buys Action's AP214

May 4, 2012 12:39 AM UTC

Abbott Laboratories (NYSE:ABT) will acquire AP214 and related IP from Action Pharma A/S (Aarhus, Denmark) for $110 million in cash. Last year, AP214 met the primary endpoint in a Phase IIb trial to prevent post-surgical kidney injury following cardiac surgery with cardiopulmonary bypass. Abbott plans to start a Phase IIb trial of the alpha-melanocyte-stimulating hormone analog this year in patients with acute kidney injury associated with major cardiac surgery.

The compound was developed using Structure Inducing Probe technology licensed from Zealand Pharma A/S (CSE:ZEAL). Action Pharma will pay $11 million to Zealand, which is also eligible for low single-digit royalties. Zealand was off DKK4 to DKK108 on Thursday. ...