Money + compounds = fit

There's no apparent therapeutic fit in the planned merger between Corgentech Inc., formerly a cardiovascular company, and pain company AlgoRx Pharmaceuticals Inc. But the deal provides each company what it needs: cash for AlgoRx and compounds for CGTK.

At June 30, CGTK (South San Francisco, Calif.) had $95.6 million in cash and a hole in its pipeline following the 2004 failures of two Phase III trials of edifoligide E2F Decoy to prevent graft failure following surgical procedures. CGTK has since advanced its NF-kappa B Decoy into two Phase I/II trials for eczema, but it has no other products in the clinic. ...