LEXINGTON, Mass.--(BUSINESS WIRE)--NitroMed, Inc. (NASDAQ: NTMD) said today that Deerfield Management has responded to NitroMed’s communication regarding the company’s willingness to discuss Deerfield’s prior unsolicited proposal to acquire the company for $0.50 per share in cash. Contrary to NitroMed’s belief that Deerfield’s expression of interest was in lieu of NitroMed’s proposed merger with Archemix Corp., Deerfield stated that its proposal was in lieu of both the proposed sale of NitroMed’s BiDil® and BiDil XR™ drug business to JHP Pharmaceuticals, LLC and the proposed merger with Archemix. NitroMed’s directors and its advisors are reevaluating the Deerfield proposal in light of this clarification.
