Ikaria Backers Buy INO, Create Model for Self-Funding Discovery
This article was originally published in Start Up
Executive SummaryIkaria's private-equity funded acquisition of INO Therapeutics will allow the company to self-fund its continuing discovery programs while acting as a magnet for additional external commercial or clinical stage projects.
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In a partial buy-out by new private equity investor Madison Dearborn Partners, Ikaria is refocused on building out its critical care product portfolio, while a new R&D spin-out may take a route to the public markets. Existing investors have already done nicely through a series of dividends.
Although Ikaria focuses on a highly specialized segment of the hospital market, its integrated business model offers insights into continuum of care strategies that pharma companies are evaluating in a reimbursement-focused world. The company’s promising strategy could get a boost from key trial read-outs as soon as late 2012.