Vertex Pharmaceuticals Inc. on Wednesday announced the formation of a subsidiary to commercialize its biocatalysts, cross-linked enzyme crystal technology. The new unit, Altus Biologics Inc., will be headed by Peter Lanciano, who joins Altus as general manager. Vertex (NASDAQ:VRTX) of Cambridge, Mass., uses rational drug design to create small-molecule compounds the company plans to develop as orally deliverable drugs to treat major human diseases in immunology, inflammation and anti-viral
Liposome Technology Inc. announced Wednesday that it has begun a Phase III study in an AIDS patient with Kaposi's sarcoma. The clinical trial began Jan. 25 with Doxil, LTI's (NASDAQ:LTIZ) proprietary liposome formulation of doxorubicin, the most widely used cancer chemotherapy drug in the U.S. Doxil is being developed primarily for intravenous use in a variety of metastasizing tumors. Kaposi's sarcoma affects approximately 20,000 AIDS patients a year in the U.S. The Menlo Park, Calif
Cor Therapeutics Inc. said Tuesday that it raised about $40.7 million in its public offering of 2.88 million shares of common stock, including 375,000 shares sold following the exercise of the overallotment option by the underwriting group managed by Robertson, Stephens & Co., L.P., and Montgomery Securities. The South San Francisco, Calif., company (NASDAQ:CORR) filed for an offering of 2.5 million shares of common stock at $15 a share on Jan. 18. Cor raised $15 million in its initial public
MIAMI BEACH, Fla. -- One of mankind's most persistent maladies -- the common cold -- is caused by his smallest enemy, the human rhinovirus. Structural biologist Michael G. Rossmann of Purdue University in West Lafayette, Ind., told attendees at the 1993 Biotechnology Winter Symposium here last week how he and his research team at Purdue University explored the molecular and atomic architecture of rhinovirus in order to develop anti- viral drugs against the common cold. Rossmann presented this
Genelabs Technologies Inc. said Tuesday that it has signed a letter of intent to acquire Diagnostic Biotechnology (Pte) Ltd. (DBL) of Singapore. Genelabs Asia of Singapore, the diagnostics division of Genelabs (NASDAQ:GNLB) of Redwood City, Calif., will merge with DBL to form a worldwide diagnostic product development, manufacturing and sales division in Singapore. Genelabs said it expects to purchase the remaining outstanding shares of DBL common stock in a non-cash stock exchange valued at
Cortech Inc. said it has begun enrolling patients for a Phase II study of its bradykinin antagonist, Bradycor (CP-0127), in patients with systemic inflammatory response syndrome (SIRS) and suspected sepsis. SIRS describes all patients at risk of shock, organ failure and death from common inflammatory responses to non-infectious stimuli, including trauma and burns, and to infectious stimuli causing sepsis, the company said. Cortech (NASDAQ:CRTQ) of Denver said this initial Phase II study is
Pfizer Specialty Chemicals Group, a supplier of food ingredients, has been renamed the Pfizer Food Science Group. Donald Farley, group president, announced Tuesday that heavy investment in basic research, coupled with aggressive licensing, has positioned New York-based Pfizer to introduce a new food product every year "through the '90s and beyond." The Food Science Group's newest product, also announced Tuesday, is a novel fat-reducing agent. Tradenamed Dairy-Lo, it is a natural protein
Biotechnology stock indexes slipped on Tuesday, led by Synergen Inc.'s stock (NASDAQ:SYGN), which fell $4.25 a share, closing at $56.75. Company spokesman Paul Laland said he was unaware of any news that would have affected the company's stock. Clinical trial results of Synergen's highly touted sepsis drug, Antril, are due to be analyzed this quarter, but the trials have not yet been unblinded, Laland said. The biotechnology stock indexes reflected the drop in high- profile biotech stocks. The
Viagene Inc. announced Tuesday that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of 2.5 million shares of common stock at $11-13 per share. The underwriters are being managed by The First Boston Corp., Prudential Securities Inc. and Nomura Securities Inc. Viagene of San Diego said it intends to use the net proceeds of the offering for research and development, working capital and other corporate purposes. The gene
Telios Pharmaceuticals Inc. announced Tuesday that it completed its secondary public offering, announced Dec. 14, of 4.5 million shares of common stock(NASDAQ:TLIO). Of these, 4 million shares were sold at $6 per share by the underwriters, and the other 500,000 went directly to Eli Lilly and Co. at $8 per share. The underwriters, Hambrecht & Quist Inc. and Prudential Securities Inc., have been granted an overallotment option to purchase an additional 600,000 shares of common stock. Telios
Ribi ImmunoChem Research Inc. said Tuesday that it has files a registration statement with the Securities and Exchange Commission to offer 3 million shares of common stock, plus an additional 450,000 shares to cover overallotments. Hambrecht & Quist Inc. is underwriting the offering. The Hamilton, Mont., company is developing products that stimulate the immune system to generate a cascade of natural agents to treat and prevent human disease. Ribi's stock (NASDAQ:RIBI) closed unchanged Tuesday
Cell Genesys Inc. said Tuesday that Invemed Associates Inc. has exercised its option to purchase an additional 500,000 shares of common stock in the company's initial public offering, bringing the total number of shares sold to 4 million. The Foster City, Calif., company (NASDAQ:CEGE) announced Monday that it completed its IPO at $11 per share. Robertson, Stephens & Co., Invemed, and Oppenheimer & Co. Inc. were the underwriters. (c) 1997 American Health Consultants. All rights reserved.
ImClone Systems Inc. on Tuesday announced that it has entered into a $35 million strategic alliance with Japanese giant Chugai Pharmaceutical Co. Ltd to develop blood cell growth factors that target a receptor, termed FLK-2, found on totipotent stem cells. ImClone (NASDAQ:IMCL) of New York, will receive up to $35 million for research support and the successful completion of milestones up to and including product approval in Japan. Chugai will have exclusive manufacturing and marketing rights in
Agouron Pharmaceuticals Inc. announced today that FDA has authorized it to start clinical testing of its anti-tumor drug AG- 331. The trials are schedule to start in February at the Comprehensive Cancer Center at the University of Southern California, Los Angeles. The San Diego company (NASDAQ:AGPH) used protein structure-based drug design to create synthetic chemical compounds to selectively inhibit the enzyme thymidylate synthase (TS), which is required for the rapid proliferation of cancer
Applied Immune Sciences Inc. (AIS) announced Monday that it has made an equity investment of an undisclosed amount in Genetix Pharmaceuticals Inc., an early-stage company focused on developing multiple drug resistance (MDR) technology for treating cancer. Genetix of Tarrytown, N.Y., will use AIS's Cellector technology to purify stem cells from the bone marrow of cancer patients undergoing high-dose chemotherapy and autologous bone marrow transplantation, explained Ronald Dorazio, Genetix's vice
Cell Genesys Inc. announced Monday that it completed an initial public offering of 3.5 million shares at $11 per share. The Foster City, Calif, company has granted the underwriters -- Robertson, Stephens & Co, Invemed Associates Inc. and Oppenheimer & Co. Inc. -- an option to purchase up to an additional 500,000 shares to cover overallotments. The common stock will trade on the NASDAQ National Market System under the symbol CEGE. Net proceeds from the IPO will be used for research and
A study sponsored by the National Institute of Allergy and Infectious Diseases (NIAID) said didanosine (ddI) and zalcitabine (ddC) were similarly effective and safe in slowing the progression of disease in people infected with HIV who no longer benefit from zidovudine (AZT) or who are intolerant of its side effects. ddI is the only anti-HIV medication currently approved by FDA for single-drug use in patients who cannot take or do not respond to treatment with AZT. ddC is indicated for use in
Phase I clinical trial results on Cambridge Biotech Corp.'s vaccine adjuvant QS-21 have shown that a vaccine containing this adjuvant is both safe and active in humans. Philip Livingston, a researcher at the Memorial Sloan-Kettering Cancer Center in New York, reported these results Saturday at a meeting of the New York Academy of Sciences on Specific Immunotherapy of Cancer with Vaccines. Livingston assessed methods of augmenting antibody response to melanoma ganglioside vaccines combined with
Gensia Pharmaceuticals Inc. and Genta-Jago, a joint venture between Genta Inc. of San Diego and the private Swiss company Jagotec AG, announced Monday that they have formed a collaboration to develop, manufacture and commercialize oral products intended for treating cardiovascular disease using Geomatrix's controlled-release drug delivery technology. The collaborators will use the Geomatrix technology to develop once-daily oral controlled-release formulations of certain cardiovascular products
TheraTech Inc. announced Monday that Ivers-Lee, a division of Becton Dickinson & Co., has agreed to produce TheraTech's transdermal patches. Ivers-Lee will provide an alternative manufacturing site in West Caldwell, N.J., for TheraTech's liquid reservoier transdermal products. TheraTech (NASDAQ:THRT) of Salt Lake City expects its new manufacturing facilities to be completed by mid-1994. (c) 1997 American Health Consultants. All rights reserved.
Vertex Pharmaceuticals Inc. on Wednesday announced the formation of a subsidiary to commercialize its biocatalysts, cross-linked enzyme crystal technology. The new unit, Altus Biologics Inc., will be headed by Peter Lanciano, who joins Altus as general manager. Vertex (NASDAQ:VRTX) of Cambridge, Mass., uses rational drug design to create small-molecule compounds the company plans to develop as orally deliverable drugs to treat major human diseases in immunology, inflammation and anti-viral