Cardioxyl Pharmaceuticals was a private biotechnology company focused on the discovery and development of novel therapeutic agents for cardiovascular disease, particularly heart failure. Its lead asset, CXL-1427, was a nitroxyl (HNO)-releasing prodrug with a novel mechanism of action that advanced to Phase 2 clinical trials for acute decompensated heart failure. Bristol-Myers Squibb acquired Cardioxyl in November 2015 for $300 million upfront and up to $1.78 billion in milestone payments.
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