Aileron Therapeutics completed the acquisition of Lung Therapeutics.

Aileron Therapeutics, a clinical-stage biopharmaceutical company that is discovering and developing novel medicines to improve the outcomes and the quality of life of cancer patients, completed the acquisition of Lung Therapeutics, a privately held biopharmaceutical company focused on developing novel therapies for the treatment of orphan pulmonary and fibrosis indications that have no approved or limited effective treatments. Financial terms were not disclosed. "We are pleased to announce that after a thorough evaluation of strategic alternatives, we have completed the acquisition of Lung Therapeutics, which we believe represents a value-creation opportunity for Aileron's stockholders. We are thankful and appreciative of our board members, management team and employees, both past and present, along with our investors for their support and commitment. Lung Therapeutics has built a promising clinical-stage pipeline for life-threatening lung conditions, and we believe in the ability of our combined companies to deliver value to both patients and stockholders," Manuel Aivado, Aileron CEO.