With cash scarce and investors clamoring for cost-savings, virtualization appears to be the new reality for biotech companies.

Alnara Pharmaceuticals Inc. is expected to announce Wednesday morning that it has licensed the Phase III cystic fibrosis drug Trizytek - which was dropped by Altus Pharmaceuticals Inc. in January - from the Cystic Fibrosis Foundation. (BioWorld Today)

Despite the sorry state of the economy, private biotech companies raised more money in the first two months of 2009 than in the same period last year, according to data from BioWorld Financial Watch. (BioWorld Today)