Thursday, September 25, 2008
Nuvelo Buys ARCA Biopharma
San Carlos, Calif.-based Nuvelo Inc. said today that it has agreed to acquire ARCA biopharma Inc., a privately funded, late-stage developer of cardiovascular therapies headquartered in Broomfield, Colo. Financial terms of the deal were not disclosed. Under the proposed definitive merger agreement, ARCA will become a wholly owned Nuvelo subsidiary. ARCA has two opportunities, a Phase 3 beta-blocker targeted at the treatment of heart failure, and an anticoagulant awaiting launch of Phase 2 trials.