BioCardia, Inc. (NASDAQ: BCDA), today announced that it has entered into an agreement with BlueRock Therapeutics LP for the delivery of BlueRock’s cell therapy product candidates for the treatment of heart failure utilizing BioCardia’s minimally invasive biotherapeutic delivery product candidates.
“We look forward to working with BlueRock to deliver their therapeutic candidates locally to the heart. Our having a role in their world class well-funded development effort is aligned with our mission to develop and enhance therapies to treat cardiovascular and pulmonary disease,” said CEO Peter Altman.
“Our efforts under this agreement have potential to benefit BlueRock’s cardiovascular programs, which could ultimately benefit patients with cardiovascular disease and their families.”
Under the terms of the agreement, BioCardia will receive a sizable up-front payment, a portion of which is creditable for biotherapeutic delivery products and support services. The agreement has an option to negotiate for a non-exclusive world-wide license to BioCardia biotherapeutic delivery product candidates for certain cell types for cardiac indications and is time limited.
BioCardia, headquartered in Sunnyvale, California, is developing cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary disease. CardiAMP™ autologous and NK1R+ allogeneic cell therapies are the Company’s biotherapeutic platforms that enable four product candidates in development.
The CardiAMP Cell Therapy Heart Failure Trial investigational product has been granted Breakthrough designation by the FDA, has CMS reimbursement, and is supported financially by the Maryland Stem Cell Research Fund.
BCDA shares began Wednesday acquired 12 cents, or 5.8%. to $2.18.
