Another Setback for Cadence, Stimulus Funds Help Fuel Life Sciences Jobs, Tioga Gets More Funding for Drug Trial & More San Diego Life Sciences News

2/18/10

Some local biotechnology companies landed funding deals during the past week. We’ve got that and other highlights below.

—Tioga Pharmaceuticals raised $18 million in private equity to fund a late-stage clinical trial of asimadoline, its experimental drug for irritable bowel disorder.

San Diego received $4.95 million of $225 million in stimulus funding awarded nationwide to increase educational, training, and placement services for people seeking local life sciences and health care jobs.

—The FDA told Cadence Pharmaceuticals (NASDAQ: CADX) it found production problems at the contract manufacturing plant that produces Cadence’s intravenous form of acetaminophen, a situation that must be rectified before the drug can be approved.

—Carlsbad, CA-based Verdezyne raised $9 million in an ongoing $15.2 million venture round. The industrial biotechnology company will use the funds to validate its technology for making adipic acid, a key feedstock chemical for production of nylon.

—There was some good news for a change from Sequenom (NASDAQ: SQMN), which said it launched a non-invasive fetal sex determination test.

Denise Gellene is a former Los Angeles Times science writer and regular contributor to Xconomy. You can reach her at dgellene@xconomy.com Follow @

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  • vikas kumar

    i want to make mini hydro projects is india . i m a indian.but i have funds problems.plz. guide me for funds.