News Article

Archemix goes public with NitroMed merger
Date: Nov 19, 2008
Author: John Carroll
Source: Fierce ( click here to go to the source)

Featured firm in this article: Archemix Corporation of Cambridge, MA

Archemix wasn't able to pull off an IPO this year, but they've found their way to the public market nevertheless. In a deal announced this morning, Archemix will merge with the publicly traded NitroMed, which recently sold off the assets of its only commercial product.

In the all-stock deal shareholders for Archemix, which is developing aptamers, will get 70 percent of the company and NitroMed shareholders will gain the remaining 30 percent. NitroMed expects to have $50 million to $60 million on hand once its sale of BiDil is completed.

NitroMed Chief Executive Kenneth M. Bate will be CEO of the combined operation.