Friday, February 23, 2007

Ikaria Buys INO Therapeutics For $670M

Seattle-based Ikaria Holdings, a new investment company, said Thursday that it has agreed to combine Ikaria, Inc. and INO Therapeutics, in a deal worth $670M. INO therapeutics is a provider of drugs for the treatment of hypoxic respiratory treatment in newborns. The deal is being funded by New Mountain Capital, ARCH Venture Partners and Venrock Associates. Current INO therapeutics owner the Linde Group will maintain a stake in the company.