Experienced Cardiovascular Team to Commercialize First Genetically-Targeted
Heart Failure Treatment and Develop Short-Acting Anticoagulant Webcast Conference Call Scheduled for Thursday, September 25, 2008 at 8:30
SAN CARLOS, Calif. and BROOMFIELD, Colo., Sept. 25 /PRNewswire-FirstCall/ -- Nuvelo, Inc. (Nasdaq: NUVO) and ARCA biopharma, Inc., a privately-held biopharmaceutical company developing genetically-targeted therapies for heart failure and other cardiovascular diseases, announced that they have entered into a definitive merger agreement, expected to create a biotechnology company with a near-term commercial opportunity Gencaro (bucindolol hydrochloride), as well as a mid-stage pipeline asset, novel short-acting anticoagulant NU172, to drive long-term growth.
"We believe this combination brings both immediate and longer-term value to our stockholders," said Dr. Ted W. Love, chairman and chief executive officer of Nuvelo. "After thorough review of numerous options, we chose to merge with ARCA because it enables us to transform ourselves into a late-stage company with multiple significant milestones and a near-term commercialization opportunity, backed by a promising cardiovascular pipeline.
"This unique transaction offers us the financial resources, people, and
pipeline as we continue to build our company," said Richard B. Brewer,
president and chief executive officer of ARCA. "We believe this merger
brings together known industry leaders with significant cardiovascular drug
development and commercialization expertise, forming an ideal team to lead
the development of the first personalized heart failure medicine, Gencaro,
and short-acting anticoagulant NU172, wh
|SOURCE Nuvelo, Inc.|
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