Issue Date: February 18, 2008
AstraZeneca Spins Off GI Drug Programs
AstraZeneca is working with the life sciences investment firm Nomura Phase4 Ventures to spin off a number of its gastrointestinal (GI) drug programs. The result will be a new company called Albireo, based in Gothenburg, Sweden. Nomura Phase4 and other investors have raised $27 million and expect to raise another $40 million to fund the company. AstraZeneca earlier decided to concentrate only on GI research for gastroesophageal reflux disease.
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