Cornerstone Buys Critical Therapeutics

Lexington, MA-based Critical Therapeutics, which owns the rights to the asthma drug Zyflo and is developing other treatments for respiratory and inflammatory diseases, said today that it will be acquired by Cary, NC-based Cornerstone BioPharma. The stock-based transaction will leave Cornerstone stockholders with 70 percent ownership of the combined company and Critical Therapeutics shareholders with 30 percent. Critical Therapeutics was founded in 2000 by University of Pittsburgh critical care physican Mitchell Fink, who later went on to found Lexington’s Logical Therapeutics; Critical went public in 2004, but has seen its stock price slide recently, leading it to promise investors late last year that it would seek a merger, according to Mass High Tech.

Author: Wade Roush

Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco. Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.) I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia. I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats. My personal site: waderoush.com My social media coordinates: Twitter: @wroush Facebook: facebook.com/wade.roush LinkedIn: linkedin.com/in/waderoush Google+ : google.com/+WadeRoush YouTube: youtube.com/wroush1967 Flickr: flickr.com/photos/wroush/ Pinterest: pinterest.com/waderoush/