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
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
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