Deals and Data

Deals and Data June 5 -18

Arena Pharmaceuticals (NASDQ: ARNA) released more positive clinical trial data about its experimental obesity medication, and later announced it received more funding from a major shareholder.

On June 15, San Diego-based Adventrx Pharmaceuticals (AME:ANX) raised $2 million

At the American Diabetes Association meeting in New Orleans earlier this month, Amylin Pharmaceuticals revealed interim clinical trial results for its once weekly diabetes drug, exenatide, which showed sustained glucose control with weight loss, and other benefits.

Voice of San Diego took note recently of the biotechnology industry’s participation in discussion that will direct health care reform.

Xconomy offered an engaging profile of a young entrepreneur who has made student contests his business.

Ardea Bioscience (NASDAQ:RDEA) sees early success with its gout drug, and it gets a mention in the New York Times.

Anadys Pharmaceuticals (NASDAQ: ANDS) cut its workforce by 40 percent and is refocusing its resources on its lead drug candidate for treating the hepatitis C virus.

Trius Therapeutics, a San Diego biotech developing a new antibiotic against deadly MRSA bacterial infections, said a study showed 98 percent of patients on the lowest dose of its new compound achieved a clinical cure.

After receiving a $20 million infusion from investors last month, San Diego’s Vical (NASDAQ: VICL) says it has enough resources to continue operating through the end of 2011, which should be enough time to complete its clinical study of an immune-stimulating therapy for metastatic melanoma.

Bothell, WA-based Sonosite (NASDAQ: SONO) says it’s acquiring San Diego’s CardioDynamics International (NASDAQ: CDIC) in a deal valued at about $10 million. Sonosite makes portable ultrasound machines and CardioDynamics makes noninvasive medical diagnostic tools for cardiovascular disease.

San Diego-based Tocagen, which is developing gene therapy treatments for terminally ill cancer patients, was among three biotechs that raised cash recently.

Hollis Eden Pharmaceuticals (NASDAQ: HEPH) names its new CEO.

Accelrys also named a new CEO.

LPath, a San Diego-based company developing a cancer therapy that works by targeting lipids, was profiled this month by Xconomy.

Xconomy also profiled Vical, showing how after years of red ink, DNA vaccines are ready for prime time.

Work on a hepatitis C therapy by San Diego-based Metabasis Therapeutics (NASDAQ: MBRX) earned the company a $2 million payment from Roche.

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