Espero Pharmaceuticals and Armetheon are to merge to form a new company. Upon completion of the merger, which is expected to occur in the second quarter of 2017, the combined company will be named Espero BioPharma.
According to a press release, the merger is intended to create a cardiovascular biopharmaceutical company with a portfolio of recent US Food and Drug Administration (FDA)-approved products, a robust late-stage pipeline, and a growth plan focused on developing innovative products, acquisitions and the commercialisation of portfolio products in the US and with partners worldwide.
Armetheon recently announced it has reached agreement with the FDA for a single 1,000 patient final pivotal trial for its leading drug candidate, tecarfarin (Tecarfarin for AntiCoagulation Trial, TACT) prior to filing a New Drug Application (NDA), which is currently projected to occur in 2019.
Tecarfarin is and oral anticoagulant for patients who require anticoagulation with a Vitamin K antagonist, such as warfarin.
Espero’s currently marketed products include nitroglycerin (GoNitro) sublingual powder for the acute relief and prophylaxis of angina pectoris, which recently was recognised by the Journal of Emergency Medical Services.