Vestar Inc. of San Dimas, Calif., named to its board of directors James D. Watkins, former secretary of energy under the Bush administration. Vestar also named Roger Crossley, president and chief executive officer, to the additional post of chairman of the board. BioCryst Pharmaceuticals Inc. of Birmingham, Ala., named Ronald E. Gray chief financial officer. Gray was chief financial officer and secretary of Image Data Corp. Michael Hitchcock was named director for project management at Gilead
Ribozyme Pharmaceuticals Inc. (RPI) announced Thursday that it has just raised $12 million in a second round of private financing. The financing group included all the firms that participated in Ribozyme's first round of financing, which brought in $6 million last February: Bio Holdings, Morgenthaler Ventures, Venrock Associates, CW Group and Advent International, as well as J.H. Whitney (which led the current round), Oak Investments, Grace Horn Ventures, JAFCO, U.S. Biochemical Corp. and other
Magainin Pharmaceuticals Inc. announced Thursday that it has completed a public offering of 3.5 million shares of common stock (NASDAQ:MAGN) at $6 per share. All of the shares will be sold by the company. The offering is being managed by Hambrecht & Quist Inc., Smith Barney, Harris Upham & Co. Inc. and S. G. Warburg Securities. After the offering, there are 12.2 million fully diluted shares outstanding, the company told BioWorld. The Plymouth Meeting, Pa., biopharmaceutical company researches
InnoVet Inc. announced that it has submitted a product license application (PLA) to the U.S. Department of Agriculture for approval to market its IVET 629 immune stimulant for treating chronic respiratory disease in horses. About 30 percent of the horses in the U.S. -- or 2 million -- experience one or more episodes of respiratory disease each year. That market, according to Jesse Houdeshell, InnoVet's president, is currently served by two products. But InnoVet's IVET 629, trade-named Stimugen
Enzo Biochem Inc. said it has received a European Patent Office patent with claims broadly covering genetic antisense technology. Patents covering the same technology, to which the New York company has exclusive rights, have already been allowed by the U. S. Patent and Trademark Office and are expected to issue shortly. Enzo (ASE:ENZ) is currently holding discussions with companies interested in licensing the gene-regulation technology. (c) 1997 American Health Consultants. All rights
Miles Inc. and Rhone-Poulenc Rorer announced Thursday that they have settled a patent dispute concerning recombinant Factor VIII, which is used to prevent and control bleeding in people with Factor VIII deficiency, also known as hemophilia A. About 20,000 people in the U.S. suffer from hemophilia A. Terms of the settlement were not disclosed. Miles spokesman Don Hyman told BioWorld that Miles licensed the Factor VIII gene from Genentech Inc. of South San Francisco, Calif. Miles is
Exocell Inc. of Philadelphia announced that the U.S. Patent and Trademark Office has allowed its patent covering unique cell lines that produce monoclonal antibodies targeted to glycated albumin. Exocell scientists are developing therapeutic and diagnostic products based on this technology for diabetes management applications. Glycated albumin is formed when sugar reacts with albumin, and diabetics have high levels of this compound when their diabetes is not well-controlled. These antibodies
Applied Immune Sciences Inc. (AIS) and Haemonetics Corp. announced Wednesday that they have agreed to jointly develop and market a system that will collect specific, purified cells from peripheral blood through an automated, closed device. This single system, which will be small and portable, will unite AIS's Cellector cell separation technology with Haemonetics' (NYSE:HAE) MCS portable, automated blood processing system. The goal is to practice cell therapy in the clinic or the home; to
ImmunoGen Inc. (NASDAQ:IMGN) announced Wednesday that it will begin a Phase III trial of its drug Oncolysin B "soon after the signing of an agreement with a nationally recognized oncology group." The Phase III study is designed to evaluate the effectiveness of Oncolysin B in B-cell lymphoma patients who are in clinical remission following bone marrow transplantation. (c) 1997 American Health Consultants. All rights reserved.
Alkermes Inc. announced Wednesday that it has received a second U.S. patent, No. 5,182,107, for its carrier technology for transporting drug molecules to the brain. The claims in this patent include compositions and methods for delivering nerve growth factor (NGF) to the brain by linking it to molecules which can penetrate the blood-brain barrier. Alkermes' (NASDAQ:ALKS) first U.S. patent related to this technology was issued Oct. 13, 1992, and includes broad claims to methods for using
BioSurface Technology Inc. announced Wednesday that it completed an initial public offering of 2.5 million shares of common stock at $12 a share. The Cambridge, Mass., company (NASDAQ:BSRF) granted its underwriters, Hambrecht & Quist Inc. and Cowen & Co., an option to purchase an additional 375,000 shares of common stock to cover overallotments. BioSurface uses proprietary cell culture technology to grow normal human cells and form biologically active tissue in vitro. (c) 1997 American Health
Cambridge NeuroScience Inc. (CNS) announced Wednesday that it has received the go-ahead from FDA for U.S. clinical trials on Cerestat for preventing brain damage in patients with stroke. Cerestat is an NMDA (N-Methyl-D-Aspartate) ion-channel blocker. In particular, it blocks the flow of calcium into brain cells. The interrupted flow of blood to the brain following stroke causes nerve cell death. The damaged nerve termini release excessive glutamate (a neurotransmitter), which in turn stimulates
Chemex Pharmaceuticals announced Wednesday that it has begun clinical testing of TCV-309, a topical treatment for psoriasis. The Fort Lee, N.J. company (NASDAQ:CHMX) licenses TCV-309, a platelet activating factor antagonist, from Takeda Chemical Industries Ltd. for dermatogical use. This product is being developed as part of a joint venture between Block Drug Co. Inc. and Chemex Pharmaceuticals Inc. Last December, Chemex filed an investigational new drug (IND) application with FDA. (c) 1997
CAMBRIDGE, Mass. -- Resum s at the ready, more than 1,130 job-seekers -- at least half of them Ph.D.s -- crowded into the grand ballroom of a leading hotel here on Monday to confront nearly two dozen biotechnology companies in a mood to hire. The applicants were responding to full-page advertisements in newspapers throughout the U.S., plus Science magazine, announcing "Biotech '93," a career fair organized by one of the largest and oldest such recruitment enterprises in the country. Ernie
MicroCarb Inc. announced Wednesday that it completed an initial public offering, including the sale of the underwriter's overallotment, raising $8.3 million. The 5-year-old Gaithersburg, Md., company (NASDAQ:CARB) is developing adhesin vaccines and anti-microbial drugs. The company raised $7.2 million from the sale of 1.2 million units (NASDAQ:CARBU) on Dec. 17, 1992, Vic Esposito, the company's chief executive officer, told BioWorld, then completed the sale of a 180,000-unit overallotment to
Shaman Pharmaceuticals Inc. said it completed an initial public offering of 3 million shares of common stock at $15 per share, an increase of 500,000 shares from the preliminary prospectus. The underwriters retain an option to purchase 450,000 shares to cover any overallotments. The San Carlos, Calif., company (NASDAQ:SHMN) develops traditional pharmaceuticals through isolating active compounds from tropical plants with a history of medicinal use. (c) 1997 American Health Consultants. All
SciClone Pharmaceuticals Inc. is entering the Japanese market for hepatitis B and C with corporate partner Schering-Plough Corp. (NYSE:SGP). SciClone Pharmaceuticals International Ltd. signed a long-term, semi-exclusive licensing agreement with Schering-Plough K.K. for the development and commercialization of thymosin alpha 1 in Japan. Schering-Plough developed alpha-interferon in Japan, Thomas Moore, SciClone's chief executive officer and chairman, said from his San Mateo, Calif., office on
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
Vestar Inc. of San Dimas, Calif., named to its board of directors James D. Watkins, former secretary of energy under the Bush administration. Vestar also named Roger Crossley, president and chief executive officer, to the additional post of chairman of the board. BioCryst Pharmaceuticals Inc. of Birmingham, Ala., named Ronald E. Gray chief financial officer. Gray was chief financial officer and secretary of Image Data Corp. Michael Hitchcock was named director for project management at Gilead