Nuvelo, Inc. (NUVO) Discusses Merger Agreement with ARCA Biopharma
Nuvelo, Inc. (NASD: NUVO), a privately held biopharmaceutical company developing genetically targeted therapies for heart failure and other cardiovascular diseases, announced that the company has entered into a definitive merger agreement with ARCA Biopharma, Inc. The merger of the two companies is expected to create a biotechnology organization with a near-term commercial opportunity named Gencaro (bucindolol hydrochloride), as well as a mid-stage pipeline asset (a novel, short-acting anticoagulant NU172) to drive long-term growth. Dr. Ted W. Love, chairman and chief executive officer of Nuvelo, commented on the merger stating, "We believe this combination brings both immediate and longer-term value to…