ADIANA DEVELOPING NOVEL CONTRACEPTIVE DEVICE

California-based Adiana is in the process of developing a permanent contraceptive device for women. The device, which is currently being evaluated for safety and is not yet approved for sale in the U.S., is able to be implanted in a physician's office and requires no incision.

Boosted by $23 million of private equity financing, Adiana will launch a formal clinical trial for the device, involving 600 women, in the coming months. The company expects to submit the results of this trial to the FDA in early 2006.