In Split, Ikaria Looks For Products, While New R&D Play Preps For IPO

In a partial buy-out by new private equity investor Madison Dearborn Partners, Ikaria is refocused on building out its critical care product portfolio, while a new R&D spin-out may take a route to the public markets. Existing investors have already done nicely through a series of dividends.

Private equity and venture capital investors came together in 2007 to form a critical care company through the merger of INO Therapeutics LLC into Ikaria Inc. Now they again have split Ikaria into two companies; one commercial and the other R&D focused.

As a result of the deal, the commercial company has a deep-pocketed investor who is expected to put cash back into the company to create a multi-product portfolio and the

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