Mast Therapeutics to acquire Aires PharmaceuticalsThe company offers Aironite, an inhaled drug that is used to treat adult and pediatric pulmonary hypertension, mast therapeutics aires pharmaceuticals fibrosis, pneumonia, and other respiratory infections. It also develops products for the treatment of bacterial pulmonary infections. Aires Pharmaceuticals was founded in and is based in San Diego, California. Aires Pharmaceuticals is a clinical stage pharmaceutical company developing pharmaceuficals to treat pulmonary disorders. San DiegoCaliforniaUnited States.
Mast Therapeutics Completes Acquisition of Aires Pharmaceuticals - Orphan Drugs
Aires' lead product candidate, AIR, is an intermittently nebulized formulation of nitrite that has orphan drug designation in the U. Culley , Chief Executive Officer. Under the terms of the all-stock transaction, which was completed on February 27, , Aires became a wholly-owned subsidiary of Mast Therapeutics in exchange for a total of 5. There are no milestone obligations payable by Mast. AIR has been granted orphan drug designation by the U.
The Company is leveraging the MAST Molecular Adhesion and Sealant Technology platform, derived from over two decades of clinical, nonclinical and manufacturing experience with purified and non-purified poloxamers, to develop MST, its lead product candidate, for serious or life-threatening diseases with significant unmet needs.
In the first quarter of , the Company plans to initiate a phase 2, clinical proof of concept study in acute limb ischemia that will evaluate whether MST improves the effectiveness of existing thrombolytic agents. The Company is also evaluating development options for MST in heart failure. More information can be found on the Company's web site at www.
Forward Looking Statements Mast Therapeutics cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that are based on the Company's current expectations and assumptions. Such forward-looking statements include, but are not limited to, statements relating to the Company's development plans for AIR, as well as the cost and timing of activities related to those plans, and the Company's development plans for MST in acute limb ischemia and heart failure, including the timing of initiation of any clinical studies.
Among the factors that could cause or contribute to material differences between the Company's actual results and the expectations indicated by the forward-looking statements are risks and uncertainties that include, but are not limited to: The Company's public filings with the Securities and Exchange Commission are available at www.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. Mast Therapeutics does not intend to revise or update any forward-looking statement set forth in this press release to reflect events or circumstances arising after the date hereof, except as may be required by law. Join PR Newswire for Journalists to access all of the free services designated to make your job easier.
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