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Byline: Penni Crabtree
Jul. 14--Relegated to the back of the laboratory bench for years, a discarded experimental cancer treatment called KW-3902 may find new life and purpose with San Diego's NovaCardia.
The privately held specialty-drug company hopes to raise about $50 million in venture capital on the strength of recent Phase 2 clinical trial data that indicate the drug maintains or improves kidney function while easing fluid retention in patients with congestive heart failure.
Congestive heart failure is a deadly disease in which the heart rapidly loses its ability to pump enough blood. About 5 million Americans have heart failure, and the disease results in about 3 million hospitalizations each year, according to the American Heart Association.
Walter Hudobenko, an 83-year-old heart-failure patient, was given NovaCardia's experimental drug…