ALSO NOTED: Harvard launches fund for biomedical tech; Neurogen outlines R&D plans; and much more...

> Harvard University's Office of Technology Development has launched the second round of its Technology Development Accelerator Fund, a new initiative designed to propel emerging technologies originating from the university's biomedical and life science research community into the marketplace. Release 

> Following the decision earlier this week to cut 70 employees, Neurogen has updated the status of its later stage clinical portfolio and announced the future focus of its research efforts. Neurogen intends to pursue five unpartnered clinical programs in 2008 to address anxiety, insomnia, Restless Legs Syndrome (RLS), Parkinson's disease and schizophrenia. Release

> GTC Biotherapeutics has agreed to sell some of its stock in order to raise about $6 million. Report

> A Phase III clinical trial of Labopharm's once-daily formulation of the antidepressant trazodone achieved statistical significance for the primary efficacy endpoint. The company is preparing to submit an NDA for the drug. Release

> The Maryland Department of Business and Economic Development has invested $50,000 in Sirnaomics, a Gaithersburg drug development company. Report

> You can't say Merck does things in a small way. The company has agreed to pay $671 million to settle claims that it overcharged the government for drugs and bribed doctors to prescribe certain meds. Report

> Incoming GlaxoSmithKline CEO Andrew Witty has a tough job. He's inheriting the company at a time when Avandia safety questions are dragging down sales and when generic competition is circling five drugs. Yesterday, the company predicted a decline in earnings for his inaugural year, and GSK shares tumbled. The answer? Witty says diversify. Report

And Finally... A new study in macaques suggests that antiretroviral drugs used to treat HIV could also protect people from getting the AIDS virus. Report