Targeted Genetics Hands Off Manufacturing

Xconomy Seattle — 

Targeted Genetics said today it has found a way to conserve its remaining cash reserves a few more months, through the first half of 2009. The Seattle-based biotech company (NASDAQ: TGEN) is transferring its manufacturing know-how of AAV viruses for delivering gene therapy drugs to contract manufacturers, and renegotiated its partnership with La Jolla, CA-based Celladon to give that company expanded use to manufacture the AAVs for heart failure. In November, the company said it only had enough cash left to run “into the first quarter of 2009.”