Biogen Inc. announced Friday that it has begun Phase III clinical trials to study hirulog as a potential treatment for unstable angina. The drug is the first proprietary product Biogen has supported by itself to reach a Phase III trial stage. "It's major product for us," said Amy Seltzer, director of investor relations for Biogen. "You can compare it to heparin, which has a $500 million market worldwide," she said. Heparin, which is also used to treat unstable angina, is currently the treatment
A purported stockholder filed a complaint against Greenwich Pharmaceuticals Inc. alleging that one of the company's executive officers and an employee misrepresented the status of the company's first product, Therafectin, the company said. The FDA last month told the Fort Washington, Pa., company (NASDAQ:GRPI) that Phase III data of the rheumatoid arthritis treatment must undergo further analysis. (c) 1997 American Health Consultants. All rights reserved.
British Bio-technology Group plc announced a $50 million initial public stock offering that the company hopes will lure investors on both sides of the Atlantic. The Oxford, England, company expects to sell 2 million shares of its planned 7.5 million-share offering in the United States through a offering of ADRs (American Depository Receipts). The ADRs, each of which represents to two BBG shares, are expected to sell in a range of $14.64 to $16.47 at a currency exchange rate of $1.70 to one
Bio-Technology General Corp. said Thursday that the Israeli Ministry of Health has approved its ophthalmic hyaluronic acid product. BioLon, prepared in a ready-to-use syringe, is an aid for surgical procedures of the eye such as cataract removal, intraocular lens implantation, corneal transplantation and glaucoma filtration. The product helps to retain the shape of the dye during such procedures. The New York company (NASDAQ:BTGC) expects to begin its product sales in Israel within the next
Biotechnology Development Corp. (NASDAQ:BIOD) of Newton, Mass., said that the expiration date of its class C common stock purchase warrants will not be extended. Holders of the class C warrants, which entitle the holder to purchase one share of common stock for $4.50, will be permitted to exercise the purchase options prior to the expiration date of June 19. (c) 1997 American Health Consultants. All rights reserved.
Biomatrix Inc said it has received a Phase II small business innovation research grant for $250,000 from the National Eye Institute to study in vivo response to implanted biopolymers. Biopolymers may be useful as drugs, devices and drug delivery systems. The Ridgefield, N.J., company develops biomaterials for use in orthopedic and ophthalmic applications and skin care products. (c) 1997 American Health Consultants. All rights reserved.
Pharmos Corp. said it has completed a pilot Phase I clinical study to test its first ophthalmic product using the company's submicron Emulsion delivery system. The SME technology is designed to increase the absorption rate of the compound delivered, thereby reducing the need for multiple treatments, the company said. A glaucoma treatment, Pilocarpine, was the first compound tested. Pharmos said trials of 10 volunteers showed its technology was able to increase the overall efficiency of the
Xoma Corp. announced Thursday that the FDA has said additional clinical testing may be warranted for Xoma's E5 anti- endotoxin monoclonal antibody, used to treat septic shock. The company said it hasn't been told what more would be needed to get E5 approved. The company's stock (NASDAQ:XOMA) plunged $4.75 per share on Thursday to close at $15.25. It was the heaviest traded NASDAQ issue, with nearly 3.9 million shares changing hands. Xoma in a five-sentence press release said the decision was
The Division of AIDS of the National Institute of Allergy and Infectious Diseases plans to compare the safety and immunogenicity of a recombinant HIV envelope protein vaccine formulation incorporating MPL immunostimulant with similar formulations incorporating other adjuvants in a Phase I clinical study, Ribi ImmunoChem said Thursday. The trial will include volunteers who are not infected with HIV. The AIDS Vaccine Evaluation Group will conduct the study, which is intended to compare vaccine
Cortex Pharmaceuticals Inc. said it has received a patent for the use of the protein spectrin as a marker for the degeneration of brain cells. The Irvine, Calif., company is attempting to develop a spectrin-based immunoassay that would detect neurodegenerative conditions more cheaply than imaging scans, which cost $500 to $1,500 per procedure. (c) 1997 American Health Consultants. All rights reserved.
XOMA LEADS SLIDE Xoma Corp.'s news that it might be required to do more studies of its sepsis drug triggered a decline in the AMEX Biotechnology Index on Thursday. Centocor (NASDAQ:CNTO), which is developing a competing drug to Xoma's and has itself suffered recent disappointments at the FDA, closed at $13.75 a share, down 88 cents. Xoma (NASDAQ:XOMA) posted the sector's steepest decline, falling $4.75 to close at $15.25 a share, as it topped the trading volume chart for all NASDAQ issues. (See
In its strongest showing since being walloped by an FDA decision concerning its flagship product in April, Centocor Inc. stock gained $3 a share in trading Wednesday to close at $14.63. The jump was triggered by an announcement on Wednesday morning of FDA approval of a protocol for a new Phase III clinical trial of the anti-bacterial drug Centoxin. That followed on the heels of an upbeat presentation by a Centocor founder to an investment conference Tuesday. Centocor's R&D spinoff, Tocor II
Genencor International Inc. and Ciba Geigy Ltd. have agreed to jointly develop enzymes for the pulp and paper industry. Genencor of Rochester, N.Y., will research, develop and manufacture the enzyme products and Ciba will market the products worldwide. No financial terms were disclosed. The companies expect the global market to approach $100 million by the end of the decade. The pulp and paper industry has been exploring technologies that would eliminate the use of chlorine products in wood
Genetic Therapy Inc. said Wednesday it received FDA approval to conduct the first human gene therapy trial involving the direct administration of cells producing genetically altered vectors into patients with brain tumors. The Recombinant DNA Advisory Committee of the National Institutes of Health approved the therapy. The trial is designed to treat patients with the most common form of brain tumor, primary glioma brain tumors, an always fatal disease. "Most patients have about nine months from
SEATTLE -- NeoRx Corp. announced Wednesday a binding agreement that provides Sterling Winthrop Inc. with licenses to NeoRx's antibody-labeling technology and pads NeoRx's wallet with cash and stock valued at close to $10 million. A final agreement, which divvies up the fruits of NeoRx's oldest research collaboration, is expected to be completed within 30 days, NeoRx said. Under terms of the agreement announced Wednesday, Sterling Winthrop, a unit of Eastman Kodak & Co., would receive: -- a
Genelabs Technologies Inc. on Wednesday said it has introduced the world's first commercially available diagnostic tests to detect hepatitis E virus (HEV) infection in the Asian Pacific Region. The HEV ELISA (enzyme-linked immunosorbent assay) tests use proprietary proteins, or antigens, to screen for antibodies that are markers of potential HEV infection. The tests are manufactured by the Redwood City, Calif., company's (NASDAQ:GNLB) corporate partner, Diagnostic Biotechnology (Pte) Ltd. of
Cytogen Corp. and Cytorad Inc. said Wednesday that they have begun Phase III trials on OncoScint prostate diagnostic to evaluate pre-surgical patients. The study will take place at approximately 20 U.S. institutions, including leading comprehensive cancer centers. OncoScint prostate diagnostic is a monoclonal antibody-based imaging agent that is expected to be useful in determining the extent and location of prostate cancer. Positive findings from Phase II studies included the detection of
WEST CHESTER, Pa. -- Cephalon Inc. strengthened its ties with Kyowa Hakko Kogyo Co. Ltd., announcing Tuesday an exclusive licensing agreement to develop small neurotrophic molecules for treating head and spinal injuries and other neurodegenerative disorders. The target molecules are derived from a compound known as K252a, which was discovered as a protein kinase inhibitor using Kyowa's proprietary technology. Cephalon has been evaluating the molecules for treating neurodegenerative diseases
Scios Inc. said Tuesday that it received a patent covering the cardiac hormone human BNP and its use as a pharmaceutical. Human BNP was discovered by researchers for the Mountain View, Calif., company and has shown potential as a treatment for acute congestive heart failure. BNP, or brain natriuretic peptide, is named for the organ from which it was first isolated, though this hormone is produced primarily by the heart. The Scios composition of matter patent for human BNP and related compounds
ImmuCell Corp. of Portland, Maine, said Tuesday it signed a license and supply agreement with Univax Biologics Inc. of Rockville, Md., covering ImmuCell's antibody-based therapeutic to treat cryptosporidiosis in AIDS patients. Under the agreement, ImmuCell is eligible for $2 million in research support and milestone payments from Univax during the next three years and retained exclusive manufacturing rights to the product. The deal should "put ImmuCell near a break-even operating level" for the
Biogen Inc. announced Friday that it has begun Phase III clinical trials to study hirulog as a potential treatment for unstable angina. The drug is the first proprietary product Biogen has supported by itself to reach a Phase III trial stage. "It's major product for us," said Amy Seltzer, director of investor relations for Biogen. "You can compare it to heparin, which has a $500 million market worldwide," she said. Heparin, which is also used to treat unstable angina, is currently the treatment