Carbylan and KalVista to Merge

Carbylan Therapeutics and KalVista Pharmaceuticals have agreed to merge, forming a combined company focused on discovering, developing, and commercializing plasma kallikrein inhibitors for the treatment of hereditary angioedema (HAE) and diabetic macular edema (DME).

“This transaction allows us to continue the development of our potentially best-in-class plasma kallikrein inhibitor platform, and rapidly advance our programs in HAE and DME, bringing much-needed treatments to patients,” said Andrew Crockett, chief executive officer, KalVista.

KalVista shareholders will become the majority owners of the combined company, which would take the KalVista Pharmaceuticals name and be run by executive officers of the current KalVista.

“Following an extensive and thorough review of strategic alternatives, we concluded that the transaction with KalVista provides Carbylan stockholders a meaningful equity ownership stake and an attractive opportunity for value appreciation in a biopharmaceutical company with promising clinical assets and substantial upside potential,” said David Renzi, chief executive officer, Carbylan.