Pharma BD Deal Intelligence
A $2.1B bet on a single Phase 2 heart-failure asset that never reached approval, never generated revenue, and by 2021 was shown to work no better than IV nitroglycerin
Full analysis, sources & comparables →Analysts characterized the deal as a high-risk pickup given ADHF's history of late-stage failures, with success requiring multiple successful large outcomes…
Bristol-Myers wagered up to $2B on a Phase 2 nitroxyl donor that boosts heart contractility without raising heart rate — a high-risk, high-reward bet on novel…
Phase 2a dose-escalation showed BMS-986231 (CXL-1427) produced favorable hemodynamic effects without increased heart rate, supporting continued development at…
Source summaries from our enrichment pipeline; follow links for originals.
All 5 sources with sentiment breakdown →
BMS acquired Cardioxyl Pharmaceuticals for up to $2.075B ($300M upfront plus up to $1.775B in development, regulatory, and sales milestones), adding Phase 2 nitroxyl donor CXL-1427 for acute decompensated heart failure. Program later discontinued.
A $2.1B bet on a single Phase 2 heart-failure asset that never reached approval, never generated revenue, and by 2021 was shown to work no better than IV nitroglycerin
Assessment window: 10yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Bristol-Myers Squibb Company / Cardioxyl Pharmaceuticals, Inc. (this deal) | 2015 | $2.1B | 18 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Bristol-Myers Squibb Company / Celgene Corporation | 2019 | $74.0B | 77 |
| Bristol-Myers Squibb Company / MyoKardia Inc. | 2020 | $13.1B | 76 |
| Bristol-Myers Squibb Company / Karuna Therapeutics | 2023 | $14.0B | 76 |
| Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd. | 2011 | — | 76 |
| Bristol-Myers Squibb Company / SystImmune Inc. | 2023 | $8.4B | 71 |
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More: 2015 deals · Bristol-Myers Squibb Company deals · Cardiovascular deals