Pain startup lands $43M round, option to sell for up to $228M

In a flurry of deals, California startup Incline Therapeutics has landed a $43 million Series A to back the development of a pain med delivery system and landed a $3.5 million upfront for an option to sell the company to Cadence Pharmaceuticals. Cadence gets the right to buy Incline for $135 million during the first option period, with the price rising to $228 million in the second option period--plus a $57 million bonus if the FDA approves its pain delivery technology. Incline is...

Cadence shares surge in plans to resubmit pain therapy NDA

Shares of Cadence Pharmaceuticals (CADX) surged this morning after the developer said that it plans to resubmit its marketing application for the pain therapy Ofirmev within 30 days. Citing problems with a third-party manufacturer, the FDA denied approval back in February. The FDA did not ask for any new data or stability studies, and Cadence says that after a meeting with regulators on Friday the biotech plans to continue to work with the manufacturer. Cadence shares jumped 13 percent on the...