BioCentury
ARTICLE | Strategy

Nuvelo's bargain basement pipeline

February 9, 2004 8:00 AM UTC

In October 2001, Nuvelo Inc., then called Hyseq Inc., spun out its original array business to refocus on drug development. It had $16.5 million in the bank and a discovery-stage pipeline. With its most recent deal, NUVO now has acquired three clinical stage products for very little money up front.

From a 2002 deal with Amgen Inc. (AMGN, Thousand Oaks, Calif.), NUVO already had alfimeprase for peripheral arterial occlusion (PAO). A January deal with Archemix Corp. added ARC183 for coronary artery bypass graft (CABG) surgery and other acute anticoagulant indications where heparin is currently used. And last week's deal with Dendreon Corp. added recombinant nematode anticoagulant protein c2 (rNAPc2) for acute coronary syndromes (ACS) (see "Nuvelo's Deals"). ...