Biotech Companies: Ardea Awarded Grant

November 5, 2010 (FinancialWire) (http://www.financialwire.net/) — Ardea Biosciences, Inc. (NASDAQ: RDEA) said that it has been awarded a $733,438 grant from the Department of Health and Human Services under the recently enacted Patient Protection and Affordable Care Act.

Ardea said it submitted three applications, one for each of its drug candidates under active development, for expenses incurred during 2009 and 2010. All three applications received an award. The grant is scheduled to be fully funded in the fourth quarter of 2010.

California-based Ardea Biosciences is a biotechnology company focused on the development of small-molecule therapeutics for the treatment of serious diseases.

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