Capricor Inc., a Cedar-Sinai Medical Center spin-off, on Thursday announced that it had gone public and changed its name via an all-stock merger with San Mateo-based Nile Therapeutics Inc.
Both companies have been developing therapies in the cardiovascular space that are early- or mid-stage clinical trials. Nile also has been developing treatments for renal diseases.
The merged company is now called Capricor Therapeutics Inc. Capricor shareholders received shares of Nile, giving them 90 percent control of the merged company.
Capricor Therapeutics will remain in Los Angeles under the leadership of former Capricor management team, with Linda Marbán, Ph.D., continuing as chief executive and Dr. Frank Litvack serving as executive chairman. The new board includes seven representatives from the former Capricor board and two representatives from the former Nile board.
“With the closing of this merger, we have formed a diversified heart failure biotechnology company with two clinical-stage assets, both of which have completed successful Phase I studies,” Marbán said in a statement.