Rhone-Poulenc Rorer Inc. announced that its licensed patent for blood-clotting protein Factor VIII-C used to treat hemophilia has been upheld by the European Patent Office despite opposition from five European companies. The Factor VIII-C patent is owned by the Scripps Research Institute and Rhone- Poulenc has an exclusive license. (c) 1997 American Health Consultants. All rights reserved.
Mexican authorities have approved the use of Mycogen Corp.'s genetically engineered bioinsecticide MVP in 18 crops, the San Diego company (NASDAQ:MYCO) announced Thursday. MVP controls black diamond moth larvae, which ingest the naturally occurring Bacillus thuringiensis toxin when they nibble on leaves that have been sprayed with dead bacteria containing the protein. The toxin is harmless to humans and washes off without leaving a residue. Mycogen engineered the proprietary CellCap method of
Hemosol Inc. has filed for a "primary" public offering in Canada. The Etobiocoke, Ontario, company announced that it is in the process of filing with the securities regulatory authorities in the provinces of Canada a preliminary prospectus relating to the offering of approximately 3 million shares of its common stock. The public offering is being underwrtitten by Gordon Capital Corp., Midland Walwyn Capital Inc. and Wood Gundy Inc. "Technically, this is not an IPO," said Alun Davies, Hemasol's
Vical Inc. announced that it has received a notice of allowance from the U.S. Patent and Trademark Office for a patent covering the company's lipid-based gene delivery technology. The patent covers several classes of "cytofectins," proprietary lipids for delivering functional genes to tissues. The San Diego company filed for an initial public offering in January. It is developing proprietary technology for the effective administration of polynucleotide and gene based drug products to treat
SciClone Pharmaceuticals Inc. has started treating patients with Zadaxin (thymosin alpha-1) in a Phase III clinical trial in Mexico, the San Mateo, Calif., company announced Thursday. The multinational trial, being conducted at Mexico City's Instituto Nacional de la Nutricion, will study 100 hepatitis B- infected patients from six countries -- Mexico, Costa Rica, the Dominican Republic, Venezuela, Colombia and Guatemala -- in a controlled, blinded trial designed to yield safety and efficacy
Isis Pharmaceuticals Inc. of Carlsbad, Calif., promoted Daniel Kisner to chief operating officer from executive vice president and Christopher Mirabelli to executive vice president of research and preclinical development from senior vice president. Isis also promoted B. Lynne Parshall to senior vice president and general counsel. She retains her title as secretary of Isis' board of directors. Neurocrine Biosciences Inc. of San Diego, named Gary Lyons president and chief executive officer. Lyons
A San Diego company that wants to stop brain cell death following stroke has received a small business innovation research (SBIR) grant to study one of its clinical candidates. Cypros Pharmaceutical Corp. (formerly NeuroTherapeutics), a biopharmaceutical company, is developing a drug to fuel brain cells when the supply of oxygenated blood is low. The Phase 1 SBIR grant is for CPC-211. This small molecule activates an enzyme linking production pathways of the cell fuel ATP in the presence or
Research Corporation Technologies (RCT) of Tucson, Ariz., announced last week that it has granted AmpliMed Corp., also of Tucson, an exclusive license to develop a family of chemical compounds called azonafides as treatments for breast, ovarian, colon, prostate, lung and other cancers. The azonafides are anthracene analogs of the anti-cancer agent amonafide, which has been shown to bind to DNA and thus inhibit the topoisomerases necessary for cellular replication. Researchers have shown that
Centocor Inc. told its 190-person U.S. sales force two weeks ago that most of their jobs will be eliminated by the end of the first quarter. According to spokesman Richard Koenig, the company will have a total of 850 employees after the last member of the sales force leaves -- down from 1,600 in April of last year. Koenig told BioWorld that the approximate annual cost of maintaining the sales force -- including salaries, benefits, travel and support staff -- was $20 million, an average of about
Since 1977 Jeremy Rifkin has been the pebble in the shoe of the biotech industry, or worse, perhaps, the leak in the right front tire that the guy at the service station can't seem to fix. Time and again, Rifkin's had the guys in genes tied up in court. Rifkin claims not to be a Luddite, and even backs the use of genetic engineering under certain circumstances. But "there is more than one approach to science," he told BioWorld, and generally, he favors the softer approach. Technological
Biotechnology stocks continued to decline on Wednesday, with the AMEX Biotechnology Stock Index off 3.45 points to 133.24 and the Chicago Board Option Exchange Biotech Index down 4.05 points to 123.58. Chiron Corp.'s stock (NASDAQ:CHIR) fell $3.25 a share to $52.25, Synergen Inc. (SYGN) was down $3 a share to $45.25, and Amgen Inc. (AMGN) dipped $1 below its previous 52-week low, closing at $48.25 a share, down $1.63 for the day. (c) 1997 American Health Consultants. All rights reserved.
Collagen Corp. (NASDAQ:CGEN) announced Wednesday that it plans to begin a stock repurchase program in which up to 500,000 shares of its common stock may be purchased in the open market from time to time. "The company's decision was made in view of the prices at which the company's common stock has recently traded and underscores the confidence of the board of directors in the future of the company," said Howard Palefsky, president and chief executive officer. The Palo Alto, Calif., company felt
Quidel Corp. (NASDAQ:QDEL) has filed for FDA marketing approval for its rapid immunoassay test for fecal occult blood. The San Diego company developed the two-minute test for doctors and laboratories to detect hidden blood in stool samples, a screening step for several gastrointestinal disorders, including colorectal cancer. The most widely used tests rely on guaiac-based chemistry that requires strict dietary limitations two days prior to the test for accuracy. The Quidel QuickVue test is
Chiron Corp. said Wednesday that it is planning to spend up to $100 million this year to gear up production capacity. The diversified biotechnology company (NASDAQ:CHIR) broke ground Wednesday for a $30 million, 30,000 square-foot growth factor facility 50 miles north of its headquarters in Emeryville, Calif. The Vacaville, Calif., facility is expected to open in May 1994 in a business park that already houses facilities for Alza Corp. and Advanced Polymer Systems Inc. Chiron will move
Protein Polymer Technologies Inc. announced Wednesday that it received a notice of allowance from the U.S. Patent and Trademark Office (PTO) on its genetically engineered protein polymer technology. The broad-based patent covers the San Diego company's (NASDAQ:PPTI) core technology, which is a method for generating structural proteins to be used in biomaterials. This is done by arranging selected amino acid building blocks in precise order to create new proteins with desired characteristics
Pharmos Corp. announced that Israel has approved Phase I safety studies in human volunteers of an improved submicron emulsion (SME) formulation of adaprolol maleate, a beta- blocker used for treating glaucoma. In Phase II clinical studies, it has been shown to lower intraocular pressure without producing any cardiovascular or respiratory side effects. The New York company's (NASDAQ:PARS) site-specific drug delivery technology, SME, is aimed at increasing the safety of treatment by reducing the
Alkermes Inc. of Cambridge, Mass., announced Tuesday that it has completed its acquisition by merger of Enzytech, also of Cambridge, effective Feb. 12. The acquisition was announced last November. Alkermes gains an array of drug delivery technologies developed by Enzytech that will complement Alkermes' own systems for delivering drugs to the brain as well as its programs under development for treating central nervous system disorders. In conjunction with the transaction, Alkermes issued
A new targeted capital gains bill that should benefit emerging biotech companies was introduced Tuesday into the U.S. Senate by Dale Bumpers, D-Ark., and into the House of Representatives by Robert Matsui, D-Calif. Its intent is to amend U.S. tax law to provide a capital gains tax differential for individual and corporate taxpayers who make high-risk, long-term growth-oriented venture and seed capital investments in start-up and other small companies. The small business capital gains provision
Genta Inc. filed with the Securities and Exchange Commission (SEC) last Friday for a follow-on public offering of 2.5 million shares of common stock. The offering will be its second round of public financing. The San Diego company (NASDAQ:GNTA) went public in December of 1991 at $10 a share, grossing $28.75 million. Lead underwriters for the secondary offering are Alex. Brown & Sons and Montgomery Securities. The underwriters have the right to exercise a standard 15 percent overallotment option
MicroProbe Corp. announced late Tuesday that it has raised $8 million from a group of investors in a private placement of equity managed by D. Blech & Co. Participants included the Global Health Sciences Fund and Financial Strategic Portfolios Inc., as well as previous investors. The Bothell, Wash., company said the funds will be used for research and development, and for marketing its Affirm line of DNA probe-based diagnostic systems. Funding will also provide increased support for MicroProbe
Rhone-Poulenc Rorer Inc. announced that its licensed patent for blood-clotting protein Factor VIII-C used to treat hemophilia has been upheld by the European Patent Office despite opposition from five European companies. The Factor VIII-C patent is owned by the Scripps Research Institute and Rhone- Poulenc has an exclusive license. (c) 1997 American Health Consultants. All rights reserved.