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The deal, expected to close early next year, must be approved by a majority of NitroMed's stockholders. HealthCare Ventures, Rho Ventures, and Invus Public Equities, which together control about 28 percent the Lexington firms common stock, have already pledged to back the deal.
After this deal's done, NitroMed intends to concentrate on "seeking to maximize shareholder value by combining, through one or more strategic transactions, with companies that have significant unrealized value or growth potential," CEO Kenneth M. Bate said in a statement; divestiture of some or all of its business is another option the company might pursue...