AlgoRx Pharmaceuticals Inc. intends to use proceeds from its $65 million Series C financing to bankroll ongoing development of its two lead Phase II drug candidates. (BioWorld Today)

Biogen Idec Inc. and partner Elan Corp. plc gained value Wednesday after telling Wall Street they intend to file the Antegren application for multiple sclerosis based on one-year data, as opposed to waiting for the traditional two-year data set to be completed. (BioWorld Today)