Scios divides its neurology plays

Scios Nova Inc. has created a new company to develop products for the neurological and central nervous system markets, moving the associated R&D expense off its income statement while retaining the revenue from its existing portfolio of psychiatric drugs.

The newly formed Guilford Pharmaceuticals Inc., with initial funding of $2.5 million from SCIO, will focus on the development of products that diagnose and treat neurological, neurosurgical and psychiatric diseases. ...