$PULM $CARA #Biotech #MergersAndAcquisitions Activity to Rise in 2017

NEW YORK, NY / January 27, 2017 / The Biotech Industry witnessed a drop in mergers and acquisitions (M&A) activity amidst a slump in 2016. The Nasdaq Biotech Index declined roughly 22 percent in 2016. M&A activity within the Biotech Industry totaled 326 deals worth approximately $91 billion in 2016, compared to $118 billion the year prior, according to Bloomberg. Also the number of M&A deals in the sector in 2016 was the lowest total in six years. Research & development productivity of 12 of the biggest biopharma companies, which was measured by annual projected R&D returns, hit a 7 year low in 2016, according to a recent study completed by Deloitte. With many large firms having more cash available, giving them plenty of firepower for larger number of in M & A activities in 2017.

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“With a large gap remaining between large BioPharma’s actual and desired revenues, and historically high amounts of cash on hand, look for an uptick of larger acquisition targets,” says David Risinger, an analyst for Morgan Stanley who covers big pharma. “This is particularly true of the U.S. BioPharma industry, where the amount of cash on hand is greater and intentions more focused.”

Pulmatrix Inc. (NASDAQ: PULM)

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Pulmatrix’s shares surged 35.37 percent to close at $2.22 a share Thursday. The stock traded between $1.42 and $2.59 on volume of 20.32 million shares traded. On January 17^th, the company announced PUR1900, a drug candidate for the treatment of fungal infections in the lungs of CF patients, received the “Qualified Infectious Disease Product” (QIDP) designation from the U.S. Food & Drug Administration.

“The new QIDP designation is a significant boost to our efforts to make this drug available as quickly as possible to cystic fibrosis (CF) patients suffering from fungal lung infections,” said Pulmatrix CEO Robert Clarke, PhD. “It will give us the benefit of an expedited regulatory review. Added to our existing FDA Orphan drug designation for PUR1900, it will give us a full 12 years of market exclusivity.”

Cara Therapeutics Inc. (NASDAQ: CARA)

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Cara Therapeutics’ shares jumped 6.26 percent to close at $13.74 a share Thursday. The stock traded between $12.93 and $13.98 on volume of 2.29 million shares traded. Cara’s most advanced patented compound, CR845, is currently undergoing clinical testing for acute pain and pruritus. This compound possesses analgesic, anti-inflammatory and anti-pruritic activities appropriate for multiple therapeutic applications. On November 29^th, the company announced the completion of patient enrollment for the multi-dose phase of its adaptive Phase 2/3 trial of I.V. CR845 in dialysis patients suffering from moderate-to-severe uremic pruritus (UP).

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