Torrey Pines Therapeutics Licenses Three Drugs to Cenomed

Luke Timmerman10/8/08

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 Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.