Cadrenal Therapeutics Expands Pipeline With Portfolio Acquisition Worth Up To $15 Million

Cadrenal Therapeutics, Inc. (CVKD) on Monday announced the acquisition of new assets from eXIthera Pharmaceuticals.

The company said that the acquisition will significantly enhance its pipeline by adding novel assets in acute and chronic anticoagulation settings. As per the deal, eXIthera will receive milestone payments from Cadrenal totaling up to $15 million, subject to the realization of certain future clinical and regulatory milestones. eXIthera will also be entitled to royalties on global sales of the acquired assets upon future commercialization.

CVKD shares jumped 2% at the time of writing. On Stocktwits, retail sentiment around CVKD stock fell from ‘bullish’ to ‘neutral’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.

The deal includes eXIthera’s portfolio of investigational intravenous (IV) and oral Factor XIa inhibitors, a new class of anticoagulants. This includes eXIthera’s lead asset, Frunexian, being studied for acute anticoagulation, EP-7327, an oral small molecule candidate for chronic indications, and an extensive portfolio of additional small molecules.

“With this acquisition, Cadrenal is the only company in the world developing a novel vitamin K antagonist (tecarfarin) and Factor XIa inhibitors, a promising new class of anticoagulants,” said Cadrenal CEO Quang X. Pham.

“With tecarfarin planning a trial in patients with end-stage kidney disease transitioning to dialysis, our plans for LVAD patients, and the current addition of frunexian and EP-7327, we believe that Cadrenal is strategically positioned to deliver differentiated therapeutics across the entire spectrum of patients with cardiovascular thrombotic risk,” he added.

Sichuan Haisco Pharmaceuticals retains rights to Frunexian in China under a pre-existing license agreement, the company said. Cadrenal will, however, be entitled to receive royalties of Frunexian sales in China.

CVKD stock is down 8% this year but up approximately 20% over the past 12 months.

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