Although going about the typical process for a biotechnology firm backward, Avera Pharmaceuticals Inc. proved it can make the model work, raising $48 million in a Series C round of venture capital funding. (BioWorld Today)

The FDA granted accelerated approval for Truvada, a fixed-dose combination of Gilead Sciences Inc.'s anti-HIV medications Emtriva and Viread. (BioWorld Today)

Neuropharma SA, a subsidiary of Zeltia Group, raised €16 million in its first external funding round to progress several preclinical programs in Alzheimer's disease. (BioWorld International)