Roche snaps up Marcadia Biotech

Roche ended 2010 much as it began the year--snapping up biotech developers and their products. The pharma giant reported that it bought Indiana-based Marcadia Biotech, a tiny company which has been working on new treatments for obesity and diabetes. Marcadia was founded by a pair of Eli Lilly veterans, Richard DiMarchi and Gus Watanabe, who died in 2009. 5AM Investors, Frazier Healthcare Ventures and Twilight Venture Partners provided $15 million in venture funds back in 2007. Roche didn't offer any details on the buyout, saying that would come later. Report

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