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Aeolus Pharmaceuticals, Inc.
Aeolus Pharmaceuticals Receives $175,000 Milestone Payment From Cardiovascular Company
October 17th, 2008
Aeolus Pharmaceuticals, Inc. (OTCBB: AOLS) announced that it has received a milestone payment from ARCA Biopharma, Inc., a privately held cardiovascular-focused company ("ARCA"). In 2003, CPEC, LLC ("CPEC"), a limited liability company owned by Aeolus (35%) and Indevus Pharmaceuticals, Inc. (65%), out-licensed all rights to a potential therapeutic compound referred to as "bucindolol" to ARCA. The cash payment received by Aeolus is based upon Aeolus' ownership interest in CPEC. The $175,000 payment received by Aeolus was triggered by the acceptance by the U.S. Food and Drug Administration (FDA) of a New Drug Application (NDA) for ARCA's lead product candidate,...
Source: Health Business Week (2008-10-17)
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