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Benzinga

Business

Vandana Singh

MannKind, Backed By Blackstone, Expands Cardiorenal Focus With $360 Million Deal

MannKind Blackstone United States

Business,People,,Double,Exposure,And,Handshake,Closeup,For,Agreement,,City

MannKind Corporation (NASDAQ:MNKD) on Monday agreed to acquire scPharmaceuticals Inc. (NASDAQ:SCPH) for a deal value of up to approximately $360 million, or $5.35 per share.

The deal marks MannKind’s strategic expansion into cardiorenal medicine, establishing its cardiometabolic business alongside its orphan lung division. It is also made possible on the heels of MannKind’s $500 million strategic financing agreement with Blackstone.

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