Corautus Genetics is a development-stage company dedicated to the development of innovative products across various indications. VIA Pharmaceuticals, meanwhile, is focused on cardiovascular disease, and is building a pipeline of small-molecule drugs that target inflammation in the blood vessel wall. The company’s lead drug candidate, VIA-2291, is in two concurrent phase II clinical studies in patients with cardiovascular disease.
At a special meeting, Corautus stockholders also approved several proposals related to the merger transaction, including amendments to Corautus’ charter to increase the authorized shares of common stock to 200,000,000, to effect a reverse stock split of Corautus common stock at a ratio within the range of 1:5 to 1:20, and to change the name of Corautus to VIA Pharmaceuticals, Inc following the closing of the merger.
Following the special meeting of stockholders, Corautus’ board of directors approved a reverse stock split of the Corautus common stock at a ratio of 1:15.
The merger transaction, which is subject to customary closing conditions, is expected to close on or about June 5, 2007.