Lisata Therapeutics Acquires Marea Therapeutics; Announces Concurrent Private Placement

(RTTNews) - Lisata Therapeutics (LSTA) has acquired Marea Therapeutics, a clinical-stage biotechnology company harnessing the latest advances in human genetics to develop next-generation medicines for cardioendocrine diseases. The acquisition was structured as a stock-for-stock transaction pursuant to which all of Marea's outstanding equity interests were exchanged based on a fixed exchange ratio for a combination of 1,793,129 shares of Lisata common stock and 211,365.213 shares of Series C non-voting convertible preferred stock. Marea Therapeutics' lead product candidate, MAR001, is in Phase 2b clinical development for the treatment of severe hypertriglyceridemia. The company is also advancing MAR002 for the treatment of acromegaly.