Issue Date: March 5, 2007
Investor Group Buys INO Therapeutics
An investor group will acquire INO Therapeutics from Linde and combine it with the two-year-old biotech firm Ikaria. The group values the transaction at $670 million. INO, a supplier of gaseous drugs including nitric oxide, has annual revenues of $160 million. Ikaria is pursuing research and development on metabolic control via hydrogen sulfide. The investor group expects to inject an additional $300 million into the new firm, called Ikaria Holdings, to develop gaseous drugs to treat chronic lung disease in premature newborns and myocardial infarction, ischemic stroke, and other diseases in adults.
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