Aradigm Corp fka ARDMQ

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http://www.zogenix.com/index.php/news/aradigm-announc es-asset-sale-of-intraject-needle-free-technology-priva te-company-created-to-launch-novel-migraine-treatment/

Hayward, CA (August 28, 2006) Aradigm Corporation (NASDAQ: ARDM) today announced that, in furtherance of its plan to focus on its core pulmonary delivery expertise, particularly as it applies to the treatment of respiratory diseases, it has sold its Intraject subcutaneous delivery technology and related assets to Zogenix Inc., a newly formed privately-held company. Zogenix plans to complete development and commercialize the sumatriptan Intraject product for migraine, and may seek to commercialize other products based on the Intraject technology. Under the agreement, Aradigm has received an upfront payment of $4 million, and may receive an additional milestone payment and a royalty on sales of both the commercialized migraine product, as well as any future products based on the Intraject technology.