Elevation nails down $30M for COPD aerosol treatment; Ikaria recalls nitric oxide/inhalation product;

> Elevation Pharmaceuticals has closed $30 million in Series B financing to fund further development of its new aerosol therapy to treat chronic obstructive pulmonary disease, for use in a nebulizer. Release

> The FDA has granted orphan drug designation to Dutch company Amsterdam Molecular Therapeutics for its gene therapy program to treat hemophilia B; in early testing, it appears to reduce the need for protein replacement treatment. Release

> Addenbrooke's Hospital in Cambridge, U.K. has recruited 1,000 diabetic patients to a clinical trial comparing the effectiveness of pumps that deliver insulin directly into the body with the effectiveness of daily multiple injections, the BBC reports. Video

> Ikaria has issued a class I FDA recall notice for its Inomax DS nitric oxide/inhalation product, which treats hypoxic respiratory failure relating to hypertension in infants; health professionals have been notified and the problem corrected, the company said.  Release

> French regulators have approved United Therapeutics' use of Remodulin (treprostinil) by continuous subcutaneous infusion to treat pulmonary arterial hypertension. Story

> Arrowhead Research ($ARWR) has gained FDA clearance to begin a Phase I clinical trial of its obesity drug AdipotideTM, a nanomedicine treatment that targets and kills blood vessels supplying white fat tissue. Story