GenStar to merge with Atlanta-based Vascular Genetics

NEW YORK - GenStar Therapeutics Corporation said Friday it has agreed to merge with privately held Atlanta-based Vascular Genetics Incorporated in a move to accelerate the development of gene-based drug products for heart disease. <br> <br> Under the merger, shareholders of Vascular Genetics would get about 38 million GenStar shares as part of the all-stock deal. <br> <br> the deal is valued at about $22 million. <br> <br> The deal, which has been structured as a merger of equals, is expected to close as early as the fourth quarter. The boards of both companies have approved the deal, which is subject to shareholder approvals and other closing conditions.