Conor licenses pimecrolimus from Novartis

US firm Conor Medsystems says it has exercised its option to obtain a worldwide, non-exclusive license from Novartis to pimecrolimus for use with Conor's next-generation controlled vascular drug delivery technologies.

Conor expects to begin a clinical trial this year evaluating the therapeutic potential of two novel stents incorporating pimecrolimus for the treatment of coronary artery disease. One stent will be loaded with pimecrolimus, and the other will be a dual-drug stent loaded with both this compound and paclitaxel. The initiation of this clinical trial will position Conor as a leader in dual-drug delivery stents.

Under the terms of the deal, Conor is responsible for product development, including clinical trials, manufacturing and regulatory filings, and will pay Novartis licensing fees, milestone payments and royalties on product sales.