Espero Pharmaceuticals, Armetheon plan to merge, focus on cardiovascular medications
Espero Pharmaceuticals and Armetheon announced on March 30 that they planned on merging to form a company focused on developing cardiovascular medications. Both companies are privately held.
The deal is expected to close in the second quarter of 2017, according to the companies. Upon completion, the new company will be named Espero BioPharma.
Armetheon announced in February that it had reached agreement with the FDA to launch a pivotal trial evaluating tecarfarin, an investigational, oral, once-daily anticoagulant. The study’s primary endpoint is time in therapeutic range of the international normalized ratio. The company plans on filing a new drug application with the FDA in 2019.
Armetheon is also developing budiodarone, an anti-arrhythmic drug to treat refractory atrial fibrillation and ventricular tachycardia in patients with implantable cardioverter defibrillators. The company purchased budiodarone in May 2016.
Espero Pharmaceuticals currently markets GoNitro (nitroglycerin) sublingual powder for the acute relief and prophylaxis of angina pectoris. Jacksonville Pharmaceuticals, its wholly owned subsidiary, markets and distributes the authorized generic version of Nitrolingual Pumpspray (nitroglycerin lingual spray) and other generic medications.
In February, Espero also acquired the rights to Durlaza (aspirin) 24-hour extended release capsules for the secondary treatment of stroke and acute cardiac events.
“Armetheon’s promising late stage pipeline and Espero’s leadership and commercialization expertise will result in a biopharmaceutical company solely focused on commercializing standard of care medicines as well as developing and approving late stage candidates treating cardiovascular diseases.” Armetheon co-founder and executive chairman Peter Milner, MD, said in a news release.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.