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The investor group that owns Ikaria will sell the company’s main business to Madison Dearborn Partners, a private equity firm, in a transaction it values at $1.6 billion. Ikaria markets nitric oxide as a treatment for respiratory failure in infants. The discovery of nitric oxide’s role as a signaling molecule in the cardiovascular system won the 1998 Nobel Prize in Medicine. Ikaria’s owners will retain the firm’s research operation, which will start with $80 million to develop nitric oxide for other applications.
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