Investors gave a 72 percent boost to Crop Genetics International Corp. stock on Friday after the company announced an alliance with Du Pont to commercialize biological insecticides. The agreement is CGI's first corporate partnership. CGI shares (NASDAQ:CROP) rose $3.25 to $7.75. The Hanover, Md., company and Du Pont of Wilmington, Del., will develop insecticidal virus products (IVPs) targeted at caterpillars that attack vegetables. The IVPs will consist of natural baculoviruses that infect and
The Centers for Disease Control has finalized its recommendation, first announced in February, that all infants be routinely vaccinated against hepatitis B. The action could boost revenues of vaccine developers Chiron Corp. (NASDAQ:CHIR) and Biogen Inc. (NASDAQ:BGEN). The National Center for Health Statistics estimates that 4.2 million babies were born in the United States in 1990. Chiron of Emeryville, Calif., has licensed its recombinant vaccine technology to Merck, Sharp & Dohme. Cambridge
Shares of both Synergen Inc. and Xoma Corp. rose sharply on Friday. Spokeswomen for the companies said neither had released any news and they knew of no reason for the gains. Boulder, Colo.-based Synergen (NASDAQ:SYGN) was up $3.75 to $64.50. Xoma of Berkeley, Calif., (NASDAQ:XOMA) gained $2.63 to $22.88. (c) 1997 American Health Consultants. All rights reserved.
Vincent T. DeVita Jr., an oncologist who had been director of the National Cancer Institute from 1980-88, has been elected to the board of ImClone Systems Inc. New York-based ImClone (NASDAQ:IMCL) is developing therapeutics to treat selected cancers, disorders of the blood and immune system, and inflammatory diseases. Medizone International Inc. of New York has named Peter Melera and Wayne Chou to its board. Melera is the director of the graduate program in molecular and cell biology at the
WASHINGTON H The Bush administration is continuing to ponder whether to make federally supported biotechnology research a Presidential Initiative in the fiscal year 1993 budget, which President Bush will present to the Congress on Feb. 4. If approved, an initiative would commit the federal government to increased funding and better coordination of biotechnology research activities in the fiscal year that begins next October. The White House Office of Management and Budget (OMB) is in the midst
Chiron Corp. will acquire 50 percent of the vaccine business of Sclavo SpA of Italy for about $64.4 million, the Emeryville, Calif. company said Thursday. Under the agreement in principle, Chiron's joint venture partner, Ciba-Geigy Ltd., will acquire Sclavo's entire vaccine business and form it into a new Dutch holding company in which Chiron (NASDAQ:CHIR) will acquire a half interest for 75 billion lira. In a related agreement, Chiron and Ciba will restructure financial aspects of their 50-50
Embrex Inc. said it has reached a collaborative research agreement with an undisclosed major pharmaceuticals and chemicals company to study methods for modifying the genetic makeup of poultry while the birds are still embryos. Terms of the agreement, while not specified, "are reasonably significant for a small company, in the hundreds of thousands of dollars," Embrex President Randall Marcuson told BioWorld. The company (NASDAQ:EMBX) will be funded for an initial two- year feasibility study to
Vaccine developer Univax Biologics Inc. has done a "silent filing" for an initial public offering of up to 3 million shares of common stock. The Rockville, Md., company is developing immunotherapeutics using hyperimmune intravenous immunoglobulins. IGIVs are derived from human plasma containing specific vaccine- induced antibodies. Products in Phase I clinical development include a vaccine targeted at a bacterium that colonizes the lungs of children with cystic fibrosis, and vaccines targeted
MacroNex Inc. has raised $2 million in its first round of financing from S.R. One Ltd., Brantley Venture Partners and Intersouth Partners. The Morrisville, N.C., company hopes to develop therapeutics using the natural regulators of macrophages, white blood cells that ingest foreign organisms and present antigens to T and B lymphocytes. The company has licensed technology from Duke University and is developing two lead compounds. The first is a modified peptide that lowers the level of gene
Synergen Inc. and the University of Colorado Foundation Inc. said Tuesday that they have received a broad patent on the DNA for interleukin-1 inhibitors and methods for the production of IL-1 inhibitors. "This is very important to us," Jon Saxe, Synergen's president and chief executive officer, told BioWorld. "It establishes our exclusive rights to Antril." This is the company's first U.S. patent related to Antril, the recombinant IL-1 receptor antagonist that is scheduled to enter Phase III
Cytocare Inc. (NASDAQ:CYTI) said that it has acquired exclusive worldwide rights to diagnostic, prognostic and therapeutic uses of certain hybridoma cell lines and murine monoclonal antibodies specific for prostate cancer. The patented molecules were licensed from the Sloan-Kettering Institute for Cancer Research. Irvine, Calif.-based Cytocare is developing a family of molecules to diagnose and treat benign prostatic hypertrophy and prostate cancer. The company's shares closed unchanged at $1
TSI Corp. said it has filed a 2.3 million-share offering of common stock in which the company will sell 2 million shares and the remainder will be offered by selling shareholders. The Worcester, Mass., company (NASDAQ:TSIN) is developing disease models, toxicology tests and animals for use as bioreactors for pharmacological substances. It also provides a variety of preclinical and clinical testing services. TSI said the selling shareholders will not include executive officers or directors. The
Vestar Inc., which develops drugs to treat patients with cancer and serious infections, on Tuesday filed for a public offering of 2.5 million shares of common stock. Vestar shares (NASDAQ:VSTR) closed down 75 cents at $16.75 on Tuesday. Vestar's AmBisome liposomal formulation of the anti-fungal amphotericin B is sold in the United Kingdom, Ireland and Mexico. Fujisawa USA Inc. is developing AmBisome in the United States. Earlier this month, the San Dimas, Calif., company reported promising
Advanced Tissue Sciences Inc. said Tuesday it has filed for a 2 million-share offering of common stock. The La Jolla, Calif., company (NASDAQ:ATISA), which recently changed its name from Marrow-Tech Inc., said the proceeds would be used to accelerate development of its skin-related products. The company is developing products for therapeutic and laboratory applications that involve growth of human tissue outside of the body. In November, the Food and Drug Administration approved expansion of
Alteon Inc.'s aminoguanidine compound has been shown to inhibit the development of diabetic retinopathy in rats. Diabetes is the leading cause of adult blindness in the United States. Pathologic retinal changes are found in virtually 100 percent of patients having type I (juvenile onset) diabetes for 15 years or longer and 70 percent of patients having type II (adult onset) diabetes for 15 years or longer. The Northvale, N.J., company (NASDAQ:ALTN) is conducting Phase I trials of the compound
Roberts Pharmaceutical Corp., which acquires and develops late-stage pharmaceutical products, said Monday that it has signed a letter of intent under which Yamanouchi Pharmaceutical Co. Ltd. will buy 4 million newly issued shares of Roberts stock for $95 million. The Eatontown, N.J., company (NASDAQ:RPCX) said it will use the money to accelerate its product development programs and fund possible acquisitions. Roberts' pipeline currently includes treatments for cancer, respiratory disease
Alpha 1 Biomedicals Inc. on Monday said it has completed its acquisition of all U.S. rights to Thymosin alpha 1 from Hoffmann-La Roche Inc. Alpha 1 (NASDAQ:ALBM) purchased exclusive rights to the drug from Roche in September 1990 for treatment of chronic hepatitis B, lung cancer and as an adjuvant for vaccines. It further acquired exclusive rights to Roche's Thymosin alpha 1 patents in 21 countries last March. Roche of Nutley, N.J., was assigned the U.S. composition of matter patent on the
Stock of Synergen Inc. rose $2.88 to $59.13 on Monday after Alex. Brown & Sons Inc. analyst David Webber repeated his "strong buy" recommendation and raised his earnings estimates for the Boulder, Colo., company. Webber predicted that Synergen shares (NASDAQ:SYGN) would rise 50 percent to 100 percent next year. He based his forecast on strong data from Phase II trials of Antril interleukin-1 receptor antagonist reported last month. The results imply that "Synergen has a good shot at getting
Cytogen Corp. on Monday said it has started Phase I trials of its OncoTc NSL380 for imaging non-small cell lung cancer primary tumors and diseased lymph nodes. The product is a monoclonal antibody fragment attached to the technetium-99m radioisotope. Cytogen (NASDAQ:CYTO) received approval for the trials in October, but delayed until it could produce enough whole monoclonal antibodies to begin trials for an imaging agent for colorectal cancer, said Robert Maguire, director of clinical
Sepracor Inc. has signed an agreement with Japan's Tanabe Seiyaku Co. Ltd. to produce commercial quantities of diltiazem, an anti-hypertensive and angina drug, using Sepracor's chiral biocatalysis and membrane reactor technology. Sepracor (NASDAQ:SEPR) uses biological methods to produce pure isomer forms of drugs. "Sepracor is providing a much more efficient, low-cost process for synthesizing the pure isomer," said Dr. Robert Bratzler, general manager of Sepracor's chiral chemicals division
Investors gave a 72 percent boost to Crop Genetics International Corp. stock on Friday after the company announced an alliance with Du Pont to commercialize biological insecticides. The agreement is CGI's first corporate partnership. CGI shares (NASDAQ:CROP) rose $3.25 to $7.75. The Hanover, Md., company and Du Pont of Wilmington, Del., will develop insecticidal virus products (IVPs) targeted at caterpillars that attack vegetables. The IVPs will consist of natural baculoviruses that infect and