Arca, Nuvelo biotechs announce merger

BROOMFIELD, Colo. A private biotech company is merging with a publicly traded California biotech, the two companies announced Thursday.

Arca Biopharma will maintain its headquarters in Broomfield, Colo., after its merger with San Carlos, Calif.-based Nuvelo. The merger will be completed next year. Arca?s owners could receive up to 67 percent of Nuvelo’s stock, while Nuvelo would receive 33 percent of

Arca’s.

Arca’s application with the Food and Drug Administration for approval of the drug Gencaro was accepted for review Tuesday. The drug treats heart failure.