Myogen sells European subsidiary to Wülfing for $6.1 million plus royalty

New York, Feb. 2 - Myogen, Inc. said it has agreed to sell its European subsidiary Myogen GmbH and the sublicense of its rights to Perfan IV (intravenous enoximone) in markets outside North America to Wülfing Holding GmbH.

Wülfing will pay $6.1 million by Feb. 10 and a royalty on future sales of Perfan IV. In exchange it will receive an exclusive sublicense to manufacture and commercialize Perfan IV in markets outside North America, the capital stock of Myogen GmbH, rights to certain Perfan IV trademarks and all existing inventories of Perfan IV finished product.

"The sale of Myogen GmbH allows us to focus on the strategic requirements of our development-stage assets, ambrisentan and darusentan, while bringing in additional financial resources to support these activities," said John R. Julian, senior vice president, commercial development of Myogen, in a news release.

Perfan IV is a positive inotropic agent indicated for the treatment of acute decompensated heart failure and various uses in cardiac surgery. The product was licensed from Hoechst Marion Roussel Inc. (now Sanofi-Aventis) in 1999.

Myogen is a Denver-based biopharmaceutical company.

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