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Curacyte sells subsidiary to The Medicines Co. for E14.5 million
October 2008
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MUNICH, GermanyŚCuracyte AG announced it sold its wholly owned subsidiary, Curacyte Discovery GmbH based in Leipzig, Germany, to The Medicines Company. Curacyte Discovery is engaged in the development of synthetic serine protease inhibitors in the area of hemostasis and anti-coagulation. Its rationally-designed lead development candidate, CU-2010, is being developed for preventing surgical blood loss. It is scheduled to enter Phase I clinical development by the end of 2008.

Curacyte received a payment of E14.5 million upon signing of the agreement. In addition, Curacyte is eligible to receive a payment of E10.5 million when The Medicines Company progresses CU-2010 into Phase II clinical development as well as future commercial milestone and royalty payments. DDN

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