CyDex terminates joint development agreement on Captisol-enabled clopidogrel with Prism Pharmaceuticals

CyDex Pharmaceuticals, Inc. today announced a mutual decision with Prism Pharmaceuticals to terminate their existing joint development agreement on novel Captisol-enabled^® intravenous formulations of clopidogrel. This provides CyDex with full development and commercialization rights to the product candidate - an injectable formulation of clopidogrel. Clopidogrel is the active ingredient in PLAVIX^®, an orally available antiplatelet drug, which currently is marketed by Bristol-Myers Squibb Company and Sanofi-Aventis, Inc.

"Obtaining full development and commercialization rights to a rapid onset injectable form of clopidogrel is an important strategic advance for CyDex as we continue to expand our portfolio of innovative products for acute care hospital applications," said Theron E. Odlaug, CyDex's president and chief executive officer. "We look forward to establishing a relationship with a strategic outlicensing partner to continue the development of this promising product candidate in the clinic and, after regulatory approval, into the commercial market. We also look forward to building upon our strong relationship with Prism Pharmaceuticals, as they market their Captisol-enabled product Nexterone^® for treatment of arrhythmia."

SOURCE CyDex Pharmaceuticals, Inc.