Monday, February 28, 2011

Nile Therapeutics inks deal with Medtronic for heart failure treatment

Nile Therapeutics Inc. will work with medical device giant Medtronic Inc. on a peptide to treat heart failure and renal disease.
Specific financial terms of the deal weren’t disclosed, but Minneapolis-based Medtronic (NYSE: MDT) will fund and provide drug-device expertise as San Mateo-based Nile (NASDAQ: NLTX) works on a Phase I clinical trial with the peptide, called cenderitide.

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