Current medical news and unique business news for anyone who cares about the healthcare industry.Amylin Pharmaceuticals 1, Eli Lilly 0 – A California courtissued a temporary restraining order against Eli Lilly relating to Amylin Pharmaceuticals’ lawsuit regarding Amylin’s diabetes collaboration agreement with Lilly. The temporary restraining order prevents Lilly from selling another rival drug that [...]

Tuberculosis, diabetes and lupus are among the diseases targeted by Aarden Pharmaceuticals, based in Indiana. The company’s technology inhibits protein tyrosine phosphatases, a step which scientists have long believed will unlock new treatments for an array of ailments.

Indianapolis drug maker Eli Lilly & Co. (NYSE:LLY) has agreed to pay up to $800 million for Avid Radiopharmaceuticals, the Philadelphia developer of a tracing agent that can help diagnose Alzheimer’s disease. The tracing agent, florbetapir F 18 — which last week topped the Cleveland Clinic’s Top 10 Medical Innovations list for 2011 — is coupled with a PET scan to allow doctors to see inside patients’ brains to detect beta-amyloid plaques, the tell-tale signature of Alzheimer’s.

Arcadia Resources Inc. (AMEX: KAD) will sell up to $5 million in common shares in a registered direct offering to raise money for general corporate purposes, including expanding its pharmacy business.

Medical device company SonarMed Inc. has raised $1 million to help launch its first product — the Airway Monitoring System. The Indianapolis, Indiana, company has been perfecting its system — which uses sonar waves, sensors and software to display information about ventilator breathing tube position — for market.

SonarMed Inc. celebrated the biggest milestone in its nearly five-year history earlier this year when its breathing-tube-monitoring device was cleared by the U.S. Food and Drug Administration.Now it just needs to start selling the device, which is used for patients on ventilators. But before the company rolls it out, Indianapolis-based SonarMed wants to ensure that [...]

PharmacoPhotonics Inc. has raised $1.5 million in equity to develop a device that measures kidney function, according to a regulatory filing with the Securities and Exchange Commission.The company’s device can provide a measure of the kidney’s function, or glomerular filtration rate (GFR), in 15 to 30 minutes, according to an earlier press release. Current methods [...]

When is Blue Chip Venture Co. not Blue Chip? When it’s Allos Ventures.Three principals from Blue Chip, the well-established early stage investing company in Cincinnati, opened for business as Allos Ventures in the Indianapolis area of Indiana about six weeks ago.By then, managing directors Don Aquilano and John McIlwraith, and director Dov Rosenberg had raised [...]

Novia CareClinics LLC has raised $1 million in debt for its on-site, employer-affiliated health clinics, according to a regulatory filing. The company says it operates 18 clinics for 16 employers and is in the process of opening up six new clinics for six different employers.

The U.S. Food and Drug Administration cited Lilly for omitting and minimizing risk information about Cymbalta, and overstating the drug’s efficacy.