Clinical Data (NASDAQ:[[ticker:CLDA]]) has agreed to sell its Cogenics division, an outsourced genomics research business, to Orange County, CA-based life sciences company Beckman Coulter (NYSE:[[ticker:BEC]]) for about $17 million, according to a press release. Newton, MA-based Clinical Data says the deal is expected to close this month and will provide more capital to fund late-stage clinical development of vilazodone, an antidepressant, and apadenoson (Stedivaze), an imaging agent for diagnosing cardiac stress. The company detailed its clinical development strategy for vilazodon and apadenoson after raising $50 million in a debt financing announced in February.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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