Epix sells rights to MR contrast agent

Epix sells rights to MR contrast agent

Lantheus Medical Imaging has paid $28 million to Epix Pharmaceuticals for the U.S., Canadian, and Australian rights to the blood pool MR contrast agent Vasovist. Four months ago, the FDA approved marketing of the agent to evaluate aortoiliac occlusive disease in adults with known or suspected peripheral vascular disease. A spokesperson for Lantheus said the acquisition "builds on [the] company portfolio of leading contrast agents and reinforces our growth strategy." Vasovist joins several other imaging agents in the Lantheus Medical portfolio, including Cardiolite for nuclear cardiology and Definity for echocardiography.

The sale could determine whether Epix, which is laboring under a huge debt with virtually no income, is able to stave off bankruptcy. The company has switched from developing imaging agents to developing therapeutics. It plans to use funds from the Vasovist sale to support an exchange of $100 million in 3% senior convertible notes. The notes are to be swapped for common stock and cash. Epix must make do with only a part of the gross proceeds from its transaction with Lantheus, however. About $10.5 million of the gross proceeds will go to Bayer Schering to satisfy obligations related to the German company's market development of Vasovist for the North American and Australian markets.

AT&T, Cisco promote telepresence at HIMSS 09

Executives from AT&T and Cisco are conducting live demos of the AT&T Telepresence Solution, which enables healthcare companies to interact and collaborate with others in remote locations using life-size high-definition video and high-quality audio. The two companies are framing the offering as a way to improve collaboration and productivity by making experts available to patients visiting remote clinics, allowing consultations with remote pharmacologists or specialists, even providing telepsychiatry.

McKesson pitches revenue management

With a pitch aimed at providers who are reeling from the effects of a strained national economy, McKesson is presenting its nine-month-old Horizon Enterprise Revenue Management package at HIMSS 09 as a means to more efficiently capture revenues by strengthening the provider's infrastructure and "fundamentally improving their economics of care." The company is floating customer testimonials that Horizon Enterprise Revenue Management eliminates the need for costly bolt-on technologies and enables financial managers to more easily predict cash flow.