VALENTIS SLASHES STAFF, SELLS ASSETS

Valentis Inc. is selling its assets and cutting more than half of its employees. The Burlingame drug company agreed Monday to sell its intellectual property and manufacturing rights to Cobra Biologics Ltd., though it didn't disclose details of the sale, or its price. Yahoo Finance (http://biz.yahoo.com/bizj/060808/1327786.html?.v=2)