Astellas acclerates Cardiome's $10M fee

Japan-based drug major Astellas has amended its agreement with Canada's Cardiome over their planned re-submission of the New Drug Application for intravenous RSD1235, the Cardiome-originated treatment for acute conversion of atrial fibrillation.

Under the new terms of the accord, Astellas has agreed to fund 100% of the costs associated with re-submission, including engagement of any external consultants, and has also agreed to modify the timing of the $10.0 million NDA milestone, which was previously conditional on acceptance of the NDA for review, and is now payable on the date the application is filed once again. Commenting on the move, Bob Rieder, Cardiome's chief executive, said that Astellas' decision "is a clear demonstration of their confidence in the RSD1235 IV program."

Astellas acquired an interest in Cardiome's AF product from an October 2003 license the firm granted Astellas' predecessor, Fujisawa Healthcare, to develop and commercialize the intravenous formulation of RSD1235 in North America. Cardiome retained all rights to the IV drug outside these territories and Mexico, and also retained worldwide rights to oral formulations for the prevention of atrial fibrillation.