deals, Life Sciences, Drugs
CLDA to Sell Cogenics for $17M
Ryan McBride 4/2/09
Clinical Data (NASDAQ:CLDA) has agreed to sell its Cogenics division, an outsourced genomics research business, to Orange County, CA-based life sciences company Beckman Coulter (NYSE:BEC) for about $17 million, according to a press release. Newton, MA-based Clinical Data says the deal is expected to close this month and will provide more capital to fund late-stage clinical development of vilazodone, an antidepressant, and apadenoson (Stedivaze), an imaging agent for diagnosing cardiac stress. The company detailed its clinical development strategy for vilazodon and apadenoson after raising $50 million in a debt financing announced in February.
Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.
