• Aradigm Corp., of Hayward, Calif., closed its previously announced stock purchase agreement with Bagsvaerd, Denmark-based Novo Nordisk A/S. Aradigm sold 26 million shares of common stock to Novo in a private placement, eliminating a $9.1 million loan. The effective price per share was 35 cents.

• NewBridge Pharmaceuticals FZ-LLC, of Dubai, United Arab Emirates, closed a $12 million Series B financing, bringing the total amount raised to date to $16 million. The round was led by Kuwait Life Sciences Co., a subsidiary of Kuwait's National Technology Enterprises Co., with participation by previous investor Burrill Life Sciences Capital Fund III LP.