Covella Pharmaceuticals Inc., Biogen Idec, Santarus deal

Santarus acquired Covella for $648,000 in cash and stock and will assume about $1.2 million of Covella liabilities and transaction expenses. Covella shareholders are eligible for milestones, plus royalties on sales of products resulting from Covella's anti- VLA-1 antibody technology. Covella co-founder Mark Totoritis will become SVP of biologics at Santarus. ...