Cadrenal Therapeutics Inc. announced Sept. 15 it acquired the assets of eXIthera Pharmaceuticals, including its portfolio of investigational intravenous and oral factor Xia inhibitors.
Those are used as blood anticoagulants, for example, to prevent strokes.
Ponte Vedra Beach-based Cadrenal has no products on the market but has been developing an anticoagulant called tecarfarin, which is designed to treat patients with certain conditions that are not treatable with other drugs.
“This acquisition reinforces Cadrenal’s long-term vision of becoming a category leader in anticoagulation,” CEO Quang Pham said in a news release.
The release said the treatments acquired from eXIthera are “designed for acute care settings where contact activation of coagulation by medical devices plays a significant role, such as cardiopulmonary bypass, catheter thrombosis, and other blood-contacting implanted cardiac devices.”
With the acquisition, “we believe that Cadrenal is strategically positioned to deliver differentiated therapeutics across the entire spectrum of patients with cardiovascular thrombotic risk,” Pham said.
Under the terms of the deal, eXIthera will receive milestone payments from Cadrenal totaling up to $15 million, contingent upon the realization of certain future clinical and regulatory milestones, and will also receive royalties from future sales.