Connetics Corp.'s president and CEO Thomas Wiggans called it a "transforming event." Known for Olux and Luxiq, the marketed duo of foams to treat scalp disorders, his company this month entered an agreement to buy exclusive U.S. rights to F. Hoffmann-La Roche Ltd.'s marketed oral psoriasis drug, Soriatane, for $123 million. (BioWorld Financial Watch)
Cortex Pharmaceuticals Inc.'s CX516 for mild cognitive impairment failed to meet its primary endpoint in a Phase IIb trial, although a subset of patients with the worst memory trouble showed improvement over placebo. (BioWorld Today)
CuraGen Corp. said it plans to offer $75 million in convertible notes due 2011 in a private placement, with an option for the initial purchaser to buy up to $15 million more. (BioWorld Today)
Adding a third product to its marketed line of dermatology treatments, Connetics Corp. entered an agreement to buy exclusive U.S. rights to F. Hoffmann-La Roche Ltd.'s marketed oral psoriasis drug, Soriatane, for $123 million. (BioWorld Today)
