Atlanta-based Corautus Genetics and VIA Pharmaceuticals are merging. The two developers plan to form one company focused on developing compounds to treat inflammation of blood vessels walls and other cardiovascular indications. The company plans to concentrate much of its attention on VIA's experimental VIA-22 to combat inflammation of blood vessel walls, which is now in Phase II. VIA shareholders will receive Corautus stock. Corautus announced last fall that its experimental therapy for angina failed to hit a primary endpoint. The study was later shelved when patients in the trial suffered side effects, spurring the company to restructure as it mapped a new game plan.
"The Corautus team has spent the past several months reviewing strategic opportunities," said Richard Otto, CEO of Corautus. "The novel therapeutic development program underway at VIA addresses a large cardiovascular patient population. In addition, the substantial support of Bay City Capital, VIA's principal stockholder, and the experience of the VIA management team were key strengths as we evaluated this merger."
- check out the release on the merger
- here's a report on the merger from the Atlanta Business Chronicle