Dura Pharmaceuticals Inc, Spiros Development Corp deal

DURA formed Spiros Corp. to fund ongoing and future clinical trials of albuterol in a cassette version of Spiros, a dry powder pulmonary drug delivery system formerly known as the Dryhaler. Spiros will test three asthma drugs - albuterol, beclomethasone, and ipratropium - in a blisterdisk version of Spiros.

In connection with its formation, Spiros raised $28 million through an investment group led by an Elan Corp. (ELN) affiliate (see Offerings ). DURA contributed an additional $13 million. ...