Feb. 10, 2014, 9:36 AM
- Mast Therapeutics (MSTX) has agreed to acquire Aires Pharmaceuticals, a privately held clinical-stage company developing therapies for pulmonary vascular disorders, in an all-stock deal.
- Aires' lead product, AIR001, has orphan-drug status in the U.S. and Europe for pulmonary arterial hypertension.
- Under the terms of the transaction, Aires will receive shares representing 6% of Mast's commons stock.
- Adam Feuerstein tweets that Mast is "paying 6M shares of stock for Aires, or roughly $5M." Feuerstein also notes that Novartis had an option to acquire Aires but has apparently decided not to take it.
- Notwithstanding, Mast's shares are +5%. (PR)
Mast Therapeutics, Inc. is a biopharmaceutical company, which engages in developing novel therapies for serious or life-threatening diseases with significant unmet needs. It provides products MST-188 has cytoprotective and hemorheologic properties and inhibits inflammatory processes and... More
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