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Mast buying Aires in all-stock deal, but raising cash anyway

This article was originally published in Scrip

Executive Summary

Mast Therapeutics will buy Aires Pharmaceuticals in an all-stock deal that values the acquired firm at about $5m. Mast also put in place a facility to raise new capital even though CEO Brian Culley noted that the company will not use its own cash to get Phase II data for the Aires drug candidate AIR001, which Novartis previously had an option to buy.

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