Elixir licenses Myolimus from Novartis

US firm Elixir Medical has entered into a co-exclusive worldwide license agreement with Swiss drug major Novartis for the rights to utilize the drug Myolimus, a macrocyclic lactone in the same family as rapamycin, with Elixir's vascular and other site-specific drug-delivery applications. In addition, Elixir has an exclusive worldwide license for use of Myolimus in fully-biodegradable stents.

"Elixir is committed to be a leader in the drug-eluting stent market through the efficient development of a broad and innovative portfolio of [drug-eluting stent] products to better address physician and patient needs," said Motasim Sirhan, chief executive of Elixir. "The license agreement with Novartis Pharma AG for Myolimus enhances our capabilities to develop innovative product platforms for our physicians and patients," he added.

Myolimus has demonstrated impressive versatility, stability and a broad therapeutic index, the US firm notes, pointing out that macrocyclic lactone drugs represent the most widely-utilized drug family for DES applications and have an established safety and efficacy profile. Elixir observed positive results from evaluating the safety and effectiveness of Myolimus for the prevention of restenosis through extensive preclinical testing including in vivo animal studies and in vitro testing conducted over the past several years.