BioCentury
ARTICLE | Company News

Ikaria Holdings, Ikaria, Linde AG deal

February 26, 2007 8:00 AM UTC

Ikaria Holdings, a newly formed investment company, will acquire Ikaria and LIN's INO Therapeutics LLC for $660 million in cash and stock. LIN will receive E380 million ($500 million) in cash and a 17% equity stake in the combined company.

The deal will create a critical care medicine company with a specialty in therapeutic gases. INO markets INOmax nitric oxide for inhalation for the non-invasive treatment of hypoxemic respiratory failure associated with persistent pulmonary hypertension in infants. INO reported $160 million in 2006 revenues for INOmax, which is also in Phase III testing to treat or prevent chronic lung disease and stroke in premature infants. Ikaria's IK-1001 is in preclinical development for ischemic perfusion injury and hemorrhagic shock. The compound uses the company's hydrogen sulfide technology for inducing reversible metabolic hibernation (see BioCentury, May 2, 2005). ...