Ember Therapeutics, Mariel Therapeutics sign definitive merger agreement

Ember Therapeutics, Inc., a Boston-based biotechnology company dedicated to the discovery and development of novel obesity and diabetic related therapies, and Mariel Therapeutics, a privately held, New York-based biotechnology company developing targeted therapies for osteoarthritis and kidney fibrosis using Bone Morphogenetic Protein (BMP)-7, jointly announce today that they have entered into a definitive agreement to merge the two companies.

The combined entity, to be named Ember Therapeutics, Inc., is expected to create a leader in innovative drug discovery and development in osteoarthritis, kidney fibrosis and diabetic related diseases including obesity. The combined company's clinical pipeline will include four drugs in development – one of which has completed Phase II clinical trials in osteoarthritis and three of which are near to entering Phase I.

Financial details of the transaction were not disclosed.

"This transaction further enhances the clinical utility and efficacy of BMP-7 in diverse applications and gives us access to novel delivery technologies for BMP-7," said Joseph Hernandez, Chairman of Mariel Therapeutics. "The combined pipeline and intellectual property are expected to have a profound impact in areas of unmet medical needs."