BMS acquires Cardioxyl and with it CXL 1427 treatment for heart failure

Bristol-Myers Squibb and Cardioxyl Pharmaceuticals announced that the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire all of the issued and outstanding capital stock of Cardioxyl, a private biotechnology company focused on the discovery and development of novel therapeutic agents for the treatment of cardiovascular disease. The acquisition will give Bristol-Myers Squibb full rights to Cardioxyl’s lead asset CXL 1427, a novel nitroxyl (HNO) donor (prodrug) in Phase II clinical development as an intravenous treatment for acute decompensated heart failure (ADHF).