Ikaria, a Seattle-based biotech company focused on critical care solutions, has agreed to acquire INO Therapeutics LLC, a Clinton, N.J.-based developer of gaseous drugs like inhaled nitric oxide for treatment of hypoxic respiratory failure in newborns, from Linde AG. The deal is valued at approximately $670 million, with New Mountain Capital providing around $200 million in equity. Other equity backers include Altitude Life Science Ventures, Washington Research Foundation and Alexandria Equities, while Credit Suisse will arrange the leverage. Existing