PhaseBio Pharmaceuticals (NASDAQ:PHAS) inks an agreement with Viamet Pharmaceuticals Holdings and its wholly owned subsidiary Selenity Pharmaceuticals to acquire all of their assets and intellectual property related to certain aldosterone synthase inhibitors including lead candidate SE-6440 (or VT-6440). The compound will be renamed PB6440 which PhaseBio plans to develop for treatment-resistant hypertension.
Under the terms of the agreement, Viamet will receive an upfront payment, milestones and tiered royalties on net sales. Specific financial terms are not disclosed.
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