TargeTech Inc. on Monday named Henry L. Nordhoff president and chief executive officer. He had been president and CEO of American Biogenetic Sciences Inc. Meriden, Conn.-based TargeTech is developing and commercializing injectable gene therapies based on its receptor-targeting technology. (c) 1997 American Health Consultants. All rights reserved.

Future Medical Technologies Inc. on Monday said it has added to its product line a salmonella swab kit and a portable field test kit. The salmonella swab kit can detect salmonella within 18-24 hours, the company said. The medium in the kit is derived through the company's agreement with the University of Maryland for exclusive worldwide rights to an improved medium to detect salmonella developed with the U.S. Department of Agriculture. The portable field test kit can be used to sample raw and

International Murex Inc. said Monday that Edward J. DeBartolo Sr. and Edward DeBartolo Jr. have exercised 484,560 and 200,000 warrants, respectively, receiving a total of 342,280 common shares. The exercise of the 684,560 DeBartolo warrants provides the Toronto company with more than (U.S.) $1.7 million in cash and represents approximately 2.3 percent of the outstanding shares of the company and 4.8 percent of the DeBartolo's fully diluted share ownership. International Murex (AMEX:MXX) develops

Ray Potter, former senior editor of BioWorld, has returned to take the helm as senior editor. He replaces Karen Bernstein, who has resigned to pursue other opportunities. Chuck Lenatti has been promoted to managing editor and Aaron Bunnell has been added to the staff as assistant editor. Potter was in charge of the biotechnology beat at the San Jose Mercury for seven years. (c) 1997 American Health Consultants. All rights reserved.

InnoVet Inc. said it has begun final pivotal studies in horses of its IVET-629 immune stimulant to treat chronic equine respiratory diseases of mixed viral and bacterial origin. The Boca Raton, Fla., company (NASDAQ:IVET) hopes to file for USDA marketing approval by Nov. 1, said Jesse Houdeshell, president. InnoVet plans to begin by July 1 pivotal studies of the drug, which stimulates B lymphocytes, to treat lymphomas and mammary tumors in dogs and cats. InnoVet also plans to develop the drug

Applied Bioscience International Inc. on Friday completed a public offering of 4 million shares of common stock at $13.50, of which 1.1 million shares were sold by the company and 2.9 million were sold by stockholders. The East Millstone, N.J., provider of biological safety testing and clinical research services raised $14.9 million. Applied Bioscience had planned to sell 4.5 million shares, 1.2 million by the company and the remainder by selling stockholders. Sellers included shareholders

Chiron Corp. said Friday that it is in the process of filing a product license application for BetaSeron beta interferon to treat multiple sclerosis. The Emeryville, Calif., company (NASDAQ:CHIR) will manufacture the drug and receive a manufacturing payment and royalties on sales by Berlex Laboratories, the U.S. subsidiary of Schering AG that will market the drug. Chiron is expanding its manufacturing capacity in anticipation of product approval in late 1993 or early 1994, said spokesman Larry

INDEX OVERCOMES SETBACKS The AMEX Biotechnology Index rebounded smartly from Tuesday's sharp sell-off, finishing with a 5-point gain Friday to close at 160.63. The index closed above 160 for the first time since mid-April. Gensia Pharmaceuticals Inc. and its Aramed Inc. R&D spinoff continued a two-day run-up. Gensia (NASDAQ:GNSA) closed at $38.63, adding $3.63 to Thursday's $2.75 gain. Aramed (NASDAQ:ARAMZ) gained $4 to $42, on top of a $2 advance Thursday. Spokeswoman Martha Hough said there

Curative Technologies Inc. shares tumbled sharply on Friday before recovering to close down $2.50 at $7.50 after Vector Securities analyst Peter Drake said the company's earnings could be hurt by changes in reimbursement for Procuren. Procuren is a wound healing formula consisting of a naturally occurring complex mixture of growth factors that promotes the growth of skin, soft tissue and blood vessels. The Health Care Financing Administration, which is in charge of Medicare reimbursement, had

John L. Ufheil, president and chief executive of Celgene Corp., was named chairman. Edmund T. Pratt Jr., chairman emeritus of Pfizer Inc., was named to the board. The Warren, N.J., company (NASDAQ:CELG) is developing chiral chemicals and proprietary biotreatment systems to degrade hazardous wastes. Henry L. Nordhoff has resigned as president, chief executive and director of American Biogenetic Sciences Inc. to seek other opportunities, the company said. Alfred J. Roach, chairman and founder of

The Liposome Co. Inc. said that Marc J. Ostro has resigned as vice chairman to become a general partner of MHO Partners, a newly formed investment firm specializing in biotechnology. Ostro and his two partners are hoping to raise $150 million for a 10-year fund that will make private investments in publicly held biotech and medical device companies, Ostro told BioWorld. MHO's plans are reminiscent of the "fallen angels" strategy that New York investor David Blech has followed for many of his

MedClone Inc. said it plans to file an investigational new drug application in the third quarter for its first product, a vaccine to treat lupus nephritis. Lupus nephritis is an autoimmune disease in which patients produce an anti-self antibody that causes kidney damage, ultimately leading to loss of kidney function. The vaccine consists of a murine monoclonal antibody, 3E10, which is designed to elicit an immune response. "If you intradermally immunize patients with the pathogenic antibody

Researchers from Stanford University and Genentech Inc. reported this week on a technology to prevent T cells from attacking transplanted organs. Scientists led by Randall Morris, director of Stanford's Kovitz Laboratory for Transplantation Immunology, used an antibody to block adhesion molecules on T cells. That would prevent the T cells from attaching to transplanted organs and initiating the cascade of events leading to organ rejection. Results of tests in which the heart tissue of white

Carrington Laboratories Inc. said Thursday that it has postponed its proposed public offerings due to market conditions. The Irving, Texas, developer of carbohydrate-based products had planned a 1 million-share offering of common stock and a 3 million-unit offering in a new company, Carntech Inc., which was to fund development of Carrington's core compound. Acemannan, the core product, is a naturally occurring complex carbohydrate that the company said has potential to treat AIDS, cancer and

CHIRON LEADS THE PACK Chiron Corp. jumped $3.25 on Thursday to $53.25, leading advances by several top-tier biotech companies. The company (NASDAQ:CHIR) had no explanation for the rise. Amgen Inc. (NASDAQ:AMGEN) was the volume leader in the sector, gaining $2.13 to $61 on 1.4 million shares. Gensia Pharmaceuticals Inc. (NASDAQ:GNSA) added $2.75 to $35, and Synergen Inc. (NASDAQ:SYGN) closed up $1.75 at $45. Genzyme Corp. (NASDAQ:GENZ) closed up $1.50 at $50.25. The company announced that sale

Liposome Technology Inc. has presented preclinical data showing that its Stealth liposome technology worked better than free drug in delivering anti-cancer drugs to tumors in several mouse models. The Menlo Park, Calif., company's (NASDAQ:LTIZ) Stealth technology coats liposomes with a polymer that enables the carrier to evade recognition and uptake by the host's immune system. The data were presented last week at the American Association for Cancer Research meeting in San Diego. In one

TranCel Corp. and Baxter Healthcare Corp. on Thursday announced that they have invested more than $10 million in a new company, Neocrin Co., that will focus on the treatment and diagnosis of type I diabetes. The new company is located in Santa Ana, Calif., and will include the assets and personnel of TranCel. TranCel's venture backers, which include Aspen Venture Partners, Domain Associates, The Sprout Group, Asset Management Co. and New Enterprise Associates, contributed more than $5 million

The smoke has begun to clear from the patent disputes between transdermal nicotine patch developers with Thursday's announcement of out-of-court settlements between Alza Corp., Marion Merrell Dow Inc., Elan Corp. plc and American Cyanamid Co. Elan and marketing partner Cyanamid agreed to withdraw their patent infringement suit filed against Alza and its marketing partner, MMD. Alza and MMD withdrew their countersuit. The parties said the settlement would have no impact on the financial

The Syntex-Synergen Neuroscience Joint Venture said Wednesday that it has received orphan drug designation for ciliary neurotrophic factor to treat motor neuron disease. The category includes amyotrophic lateral sclerosis, progressive muscular atrophy, progressive bulbar palsy, primary lateral sclerosis and spinal muscular atrophies. CNTF is a nerve repair factor normally produced by the body in response to damage to peripheral nerves. Earlier this month, the joint venture began a Phase I