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Give Us the Money

Sep 26, 2008

Nuvelo and Arca Biopharma announced yesterday that they will be merging to make a late-stage cardiovascular biotechnology company. Nuvelo's alfimeprase, a drug to treat blood clots, failed last year but Nuvelo retained $76 million. This is an example, says Reuters, of failed or failing biotechs being taken over for access to their excess cash.

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