Despite attempts to quell grumblings from some of its stockholders over the last three months, troubled VaxGen Inc. ended its agreement to merge with Raven Biotechnologies, citing "stronger than anticipated" opposition to deal. (BioWorld Today)

Only days after the FDA accepted for review Zogenix Inc.'s new drug application for its needle-free sumatriptan candidate, the San Diego-based firm filed for an initial public offering. (BioWorld Today)

Antibacterial drug company Trius Therapeutics Inc. brought in $30 million in its second venture round to advance into Phase II and Phase III studies with lead program, TR-701, an oxazolidinone antibiotic that has indicated promising results from an ongoing Phase I study. (BioWorld Today)

Small antiviral firm Presidio Pharmaceuticals Inc. picked up rights to a group of preclinical small molecules targeting hepatitis C virus in a potential $108 million deal with XTL Biopharmaceuticals Ltd. (BioWorld Today)