NitroMed

About NitroMed

In 1987, a pharmaceutical company named NitroMed was founded with a focus on developing drugs based on the benefits of nitric oxide. One of its co-founders, Dr. Manuel Worcel, served as the initial CEO. The company's primary focus became a drug called BiDil, a combination of two generic medicines intended to treat heart failure. After early trials showed a particularly strong benefit for African-American patients, NitroMed pivoted its strategy. The company went public in November 2003, raising $66 million in its IPO to fund a pivotal clinical trial exclusively in self-identified black patients. This trial, called the African American Heart Failure Trial (A-HeFT), was successful, showing a 43% increase in survival rates for this group. In 2005, the FDA approved BiDil, making it the first drug ever approved for a specific racial group, a decision that sparked considerable controversy. Despite the landmark approval, BiDil's sales fell far short of expectations. By early 2008, NitroMed had to shut down its sales force. The company began looking for a buyer and, after a terminated agreement with another firm, agreed to be acquired by one of its major investors, Deerfield Management, in early 2009. The acquisition closed in April 2009, ending NitroMed's journey as an independent public company.