KAI Pharma enters CV accord with Daiichi Sankyo

Daiichi Sankyo says that its wholly-owned subsidiary Sankyo has entered into an agreement with USA-based KAI Pharmaceuticals, a privately held biotechnology company, for the global development and commercialization of KAI-9803, with an initial focus on cardiovascular disease. The novel delta protein kinase C inhibitor is a first-in-class agent for the prevention of myocardial tissue death and associated congestive heart failure in acute myocardial infarction patients undergoing revascularization procedures. It is currently in a Phase I/II clinical trial to assess safety and efficacy in patients with acute myocardial infarction on reperfusion via balloon angioplasty and the US Food and Drug Administration has granted it fast track status. Under the terms of the deal, Sankyo will make an initial payment of $20.0 million and KAI could also receive potential development and commercialization milestones of up to $300.0 million for two initial indications for KAI-9803, as well as milestone payments for future PKC inhibitors.