Gossamer Bio signs option to acquire Respira Therapeutics

Gossamer Bio (GOSS) has entered into an agreement with Respira Therapeutics, a Samsara BioCapital portfolio company, granting Gossamer an option to acquire Respira. Respira is developing RT234 (- ardenafil inhalation powder – as the first as-needed therapy for use in pulmonary hypertension, or PH. RT234 is designed to rapidly improve PH patient function and symptoms, including for pulmonary arterial hypertension or PAH, and pulmonary hypertension associated with interstitial lung disease, or PH-ILD. There are no approved PRN therapies for PAH or PH-ILD. Gossamer is issuing 2.5 million shares of common stock in connection with the signing. Additionally, upon exercise of its acquisition option, Gossamer will issue an additional 1.5 million shares of common stock. In addition, the acquisition agreement provides for certain success-based clinical, regulatory, and commercial milestone payments and a royalty on potential net sales of RT234.