CardioVascular Bio seeking partner for CHD drug candidate

Las Vegas, USA-based CardioVascular BioTherapeutics has engaged the Bruckner Group to assist it in finding a joint commercialization partner for its drug candidate CVBT-141H to treat severe coronary heart disease. The drug contains the active pharmaceutical ingredient human fibroblast growth factor -1 (FGF-1).

"Assuming that the ongoing clinical trials are successful and CVBT-141H is approved by the Food and Drug Administration, we believe that the key to CVBT's revenue maximization is implementation of a health care value strategy for CVBT-141H. In addition to addressing the clinical needs of patients and physicians, CVBT is seeking to address the health care value needs of payers by ensuring that CVBT-141H is cost-advantageous. BGI's work on the commercialization and development of health care value strategies for CVBT-141H will be important components of our discussions with potential partners," said Daniel Montano, the firm's chief executive.

"The corporate development opportunity is clear. At a time when most major pharmaceutical manufacturers are struggling to grow revenues, are challenged by revenue losses due to patent expirations, and face depleted pipelines, the Bruckner Group is pleased to be working with CVBT in finding a commercialization partner for CVBT-141H," said Bruckner partner David Balekdjian.