Illumina Launches Desktop Gene Sequencer, Avalon Raises $200M for Ninth Fund, Quidel Offering Raises Capital for New Strategy, & More San Diego Life Sciences News
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general corporate purposes, which could include buying other companies, acquiring or developing new technologies, and repaying its debts. Quidel CEO Doug Bryant outlined the company’s strategy Tuesday at the J.P. Morgan conference.
—San Diego’s Ligand Pharmaceuticals (NASDAQ: LGND said it licensed two of its liver drug candidates to Chiva Pharmaceuticals, a Los Altos Hills, CA-based affiliate of Hainan Kaihua Pharmaceutical. Ligand said the deal, which gives Chiva rights to develop and market the drugs in China, could be worth more than $100 million in milestone payments and royalties.
—San Diego-based Adventrx Pharmaceuticals agreed to acquire an unidentified biotechnology company developing a late-stage drug candidate for treating a painful blockage of blood vessels in people with sickle cell disease. Under terms of the deal, which were non-binding on both companies, Adventrx would give as much as 47 percent of its stock to the target company, providing that the FDA ultimately approves the drug for sale in the United States. The deal could be worth as much as $20.2 million.
—Independa, a San Diego-based startup developing health IT technologies to help the elderly continue to live independently, introduced its “Smart Reminders” service at the Consumer Electronics Show in Las Vegas. The Web-based platform combines apps for smart calendaring and medication reminders into a browser-based system managed by caregivers.