As the hippies used to remark, it's a gas."It," in this case, is nitric oxide, often called by the forbidding acronym NO, which first gained public acclaim when its key role in erectile function was figured out - leading boatloads of aging flower children (and others) to say "yes" to Viagra, the potency blockbuster generically known as sildenafil citrate that works by inhibiting NO's breakdown in the body.

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)

Gilead Sciences Inc. walloped forecasts by posting second-quarter net income that was up 11 percent, thanks to the briskly selling HIV treatment Viread and the hepatitis B therapy Hepsera. (BioWorld Today)

With its own product for multiple sclerosis and spinal cord injuries already in the works, Acorda Therapeutics Inc. acquired from Elan Corp. plc all U.S. rights to oral Zanaflex (tizanidine), a marketed treatment for spasticity in patients with those conditions. (BioWorld Today)