Thursday, September 25, 2008

ARCA biopharma Merges With Nuvelo

Broomfield, Colorado-based ARCA biopharma, a privately funded, late-stage developer of cardiovascular therapies, said today that it is merging with California-based Nuvelo, Inc. Financial terms of the deal were not disclosed. The firms said Nuvelo agreed to acquire ARCA biopharma Inc., which will become a wholly owned subsidiary of Nuvelo. According to Nuvelo, the merger will create a biotechnology company featuring a near-term commercial opportunity, ARCA's Gencaro, and a mid-stage pipeline asset, Nuvelo's NU172. Nuvelo's Gencaro is a genetically targeted beta-blocker for the treatment of heart failure. NU172 is a short-acting anticoagulant.