Nuvelo Resumes Development of Alfimeprase

Nuvelo announced that it will resume development of alfimeprase, its lead investigational product candidate for the potential treatment of multiple blood clot-related disorders, such as acute ischemic stroke, catheter occlusion and acute peripheral arterial occlusion. In addition, Nuvelo and Bayer HealthCare have agreed to terminate their collaboration.

Nuvelo has also granted Bayer the one-time option to reacquire rights to alfimeprase upon the initiation of a pivotal stroke trial, on the same terms as the original agreement with the addition of a $15 million option exercise payment from Bayer, Nuvelo said.

The Phase II CARNEROS-1 (Catheter Directed Alfimeprase for Restoration of Neurologic Function and Rapid Opening of Arteries in Stroke) proof-of-concept trial with alfimeprase in acute ischemic stroke is expected to begin in the second half of 2007.