Mast Therapeutics (NYSE:MSTX) and privately-held Savara Inc. said today that the 2 companies have landed a definitive merger agreement, combining their operations. The newly-formed Austin, Texas-based company is expected to be named Savara Inc., and trade on the NYSE market under a new ticker symbol.
The combined company will focus on advancing a pipeline of inhaled therapies, including AeroVanc to treat chronic methicillin-resistant Staphylococcus aureus pulmonary infection in cystic fibrosis, Molgradex to treat pulmonary alveolar proteinosis and AIR1001 to treat heart failure with preserved ejection fraction. All 3 treatments are in advanced clinical development.
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