Merck will acquire NovaCardia, Inc., a privately held clinical-stage pharmaceutical company focused on cardiovascular diseases, for $350 million. NovaCardia’s lead product candidate KW-3902, an adenosine A1 receptor antagonist, is currently in Phase III trials in patients with acute congestive heart failure (CHF). The drug works by blocking adenosine-mediated constriction of blood flow to the kidneys and inhibiting reabsorption of salt and water by the kidney, increasing urine volume and m...