Thursday, September 3, 2009
Metabasis Hires Investment Bank
San Diego-based Metabasis, a developer of biopharmaceuticals for treating metabolic diseases, announced this morning that it has hired investment bank Merriman Curhan Ford, to "evaluate strategic alternatives." Metabasis has been desperately looking for either financing or a buyer all year, saying in May that it had cut 85 percent of its employees, and was running short on cash. Most recently, the firm's CEO, Mark Erion, left the firm, handing the reigns over to board member David Hale. Metabsis said it has not yet made a decision to pursue any specific transaction or strategic alternative.