ARCA Biopharma makes unprecedented payment to Aeolus following FDA approval of bucindolol

10/10/2008

NEW YORK Aeolus Pharmaceuticals announced Friday that it had received a $175,000 milestone payment from ARCA Biopharma following the Food and Drug Administration’s acceptance of an approval application for a cardiovascular drug.

Aeolus said the drug, bucindolol, could be the first genetically targeted cardiovascular therapy. CPEC, a company owned jointly by Aeolus and Indevus Pharmaceuticals, licensed all rights to bucindolol to ARCA.

“ARCA’s success in demonstrating the potential benefits of bucindolol in treating heart failure in patients is encouraging,” Aeolus president and chief executive officer John McManus said in a statement. “We look forward to an expeditious review and hope for a positive outcome.”

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