In their search for cures, many nonprofit disease foundations are playing the role of investor, funneling research dollars to biotechnology companies. But unlike a venture capital firm, these donor-based patient advocacy groups don't expect a financial return on their "investment" in return for research grants. (BioWorld Financial Watch)

Osiris Therapeutics Inc. said it plans to sell its Osteocel business to medical device maker NuVasive Inc. for $35 million in an up-front payment at the closing of the deal, and up to $50 million in future milestone payments. (BioWorld Today)

Genaera Corp. said it plans to take steps to conserve resources, allowing the company to continue development efforts over the next 12 months for its diabetes-obesity compound and an asthma product candidate being developed by partner MedImmune Inc. (BioWorld Today)

Discovery Laboratories Inc. received yet another approvable letter from the FDA for Surfaxin use in premature infants with respiratory distress syndrome, causing shares to fall more than 47 percent Friday. (BioWorld Today)