Cardeva is a long-acting version of a treatment that can typically be given only for short periods of time to hospitalized heart-failure patients. Cardeva uses technology also used by Human Genome Sciences that allows the drug to linger in the body longer, potentially allowing for treatment on an outpatient basis.
This announcement of initiation of clinical trials comes a month after finalization the spin-off deal, according to this article from The Washington Post. It also comes one day after CoGenesis announced having raised $55 million in Series A Financing.
Read more on the clinical trials from this press release (pdf file) and about the Series A Financing here (pdf file).
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