Curacyte AG has sold subsidiary Curacyte Discovery GmbH, which develops a compound for the prevention of blood loss during surgery, to The Medicines Co. (Nasdaq: MDCO). The deal includes a EUR 14.5 million up-front payment, and additional payments based on the achievement of clinical milestones. Curacyte has raised over $60 million in VC funding from firms like TVM Capital, AlpInvest Partners and IKB Venture Capital.
TVM Capital, a major shareholder of Curacyte AG, is pleased that Curacyte Discovery GmbH, a wholly owned subsidiary of Curacyte AG has been acquired by The Medicines Company (NASDAQ: MDCO) with the intent to further develop the compound CU-2010 for the prevention of blood loss during surgery. This development will continue in
Curacyte AG has received a payment of EUR 14.5 million ($22.8 m) and will be eligible to receive additional payments when The Medicines Company reaches Phase II clinical development of CU-2010, future commercial milestones, and associated royalty payments. Proceeds from this transaction will be used to further develop the company's lead product Hemoximer (Pyridoxalated Hemoglobin Polyoxyethylene, PHP) in a Phase III pivotal trial in patients suffering from catecholamine-resistant distributive shock.
“We are proud that we have been involved with building a biotechnology company with strong enough science and development projects to be acquired by a leading