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Torrey Pines Therapeutics Licenses Three Drugs to Cenomed

Luke Timmerman 10/8/08

Torrey Pines Therapeutics said today that it has sold worldwide rights for three drug candidates to Cenomed Biosciences, a subsidiary of Abraxis Bioscience. Cenomed, based in Irvine, CA, will get rights to phenserine, Posiphen, and bisnorcymcerine for chemical defense and biodefense. La Jolla, CA-based Torrey Pines (NASDAQ: TPTX) stands to receive milestone and royalty payments from progress made with the compounds.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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