Hailed as the largest Phase I deal in biotech history, Anadys Pharmaceuticals Inc. entered a potential $570 million agreement with Novartis Pharma AG to advance ANA975 and other Toll-like receptor 7 oral prodrugs for chronic hepatitis C and hepatitis B viruses. (BioWorld Today)

About three weeks after Phase III data showed Cerovive hit its primary endpoint, Renovis Inc. formed a preclinical research deal with Pfizer Inc. worth up to $187 million or more for products that inhibit the vanilloid receptor (VR1). (BioWorld Today)

Placing more resources toward and greater attention on its product Liprostin for peripheral arterial occlusive disease, Endovasc Inc. decided to stop funding preclinical research of a nicotine receptor agonist (NRA) in coronary artery disease. (BioWorld Today)