NovaCardia Spinout Raises $20 Million

Sequel Pharmaceuticals, a San Diego-based developer of a drug candidate for the treatment of atrial fibrillation, has raised $20 million in Series A funding. Sequel recently spun out of NovaCardia, following that company's acquisition by Merck & Co.The $20 million came from past NovaCardia backers Domain Associates, Forward Ventures, InterWest Partners, Montreux Equity Partners and Skyline Venture.