Insmed's experimental therapy for pulmonary arterial hypertension succeeded in a mid-stage trial, causing shares of competitors Liquidia and United Therapeutics to fall in premarket trading.
United Therapeutics Corporation has entered into a definitive agreement to acquire Miromatrix Medical Inc., a life sciences company focused on the development of bioengineered organs composed of human cells. The acquisition will expand United Therapeutics' organ manufacturing programs and its efforts to address the shortage of transplantable organs. The purchase price is $3.25 per share in cash at closing, with an additional cash payment upon the achievement of a clinical development milestone related to Miromatrix's fully-implantable manufactured kidney product. The transaction is expected to close in the fourth quarter of 2023.