In August of 2008, it was reported that Caden Biosciences Inc was in the process of shutting down and liquidating its intellectual property. Caden Biosciences, Inc. operates as life sciences tools and services company which develops and markets assays for G-Protein Coupled Receptors. It develops assays and provides solutions to the pharmaceutical industry partners. The company was formerly known as Cue BIOtech, Inc. (under which it received its SBIR awards) and changed its name to Caden Biosciences, Inc. in August, 2006.