Cadrenal announces acquisition of assets of eXIthera Pharmaceuticals

Cadrenal Therapeutics (CVKD) announced the acquisition of the assets of eXIthera Pharmaceuticals, including its proprietary portfolio of investigational intravenous and oral Factor XIa inhibitors. The acquisition significantly enhances Cadrenal’s pipeline, adding drug candidates that address large and underserved segments of the current $38B global anticoagulation market. Under the terms of the acquisition agreement, eXIthera will receive milestone payments from Cadrenal totaling up to $15 million, contingent upon the realization of certain future clinical and regulatory milestones. Additionally, eXIthera will be entitled to royalties on global sales of the acquired assets upon future commercialization. The structure and terms of the agreement enable Cadrenal to focus capital deployment on advancing the clinical development of tecarfarin and the acquired assets.