Aduro Biotech to merge with Chinook Therapeutics.

Aduro Biotech, a clinical-stage biopharmaceutical company, agreed to merge with Chinook Therapeutics, a drug discovery company developing precision medicines for kidney disease, in exchange for shares of Aduro representing approximately 50% of its outstanding common stock. "After an extensive and thorough review of strategic and potentially transformative options for Aduro, we are very pleased to announce a proposed merger with Chinook. We believe the combined company’s strong pipeline, near-term milestones, seasoned leadership team and focus on kidney diseases offer an excellent opportunity to benefit patients and provide value to our stockholders," Stephen T. Isaacs, Aduro Chairman, President and CEO.