Xconomy | Seattle - Business + Technology in the Exponential Economy

Pathway Medical Gets Traction, Ekos Raises $12.5M, ZymoGenetics Sales Boss Departs, & More Seattle-Area Life Sciences News

Luke Timmerman 2/5/09

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with a $1 million milestone payment from San Diego-based Amylin Pharmaceuticals. MDRNA is running dangerously low on cash, and has cut employee wages.

—MolecularMD, a Portland, OR-based cancer diagnostics company co-founded by star researcher Brian Druker, said this week it has raised $3 million in venture capital.

—CMC Icos, a contract manufacturer of biotech drugs in Bothell, WA, said it is cutting 7.5 percent of its workforce, or 11 jobs. The company, which has put off plans to double in size, will now have about 130 employees, a spokesman says.

—AVI Biopharma, the Portland, OR-based biotech company developing a treatment for the U.S. government to fight the Ebola virus, said it raised $16.5 million by selling 14.2 million new shares of stock. Eastbourne Capital Management is one of its new investors.

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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