SciClone Pharmaceuticals Inc. has raised $22.4 million in an initial public offering of 3 million shares of common stock at $7.25 per share and 3 million warrants at 20 cents per warrant. The San Mateo, Calif., company (NASDAQ:SCLN) acquires for development later-stage proprietary drugs that have an existing base of preclinical and clinical data, focusing on infectious diseases, cancer and immune system disorders. SciClone has acquired from Alpha 1 Biomedicals Inc. worldwide rights, excluding
Somatogen Inc. has published preclinical research showing that its modified, mutated hemoglobin has promise as a blood substitute. Human hemoglobin itself is unsuitable as an oxygen carrier in blood because it holds onto oxygen too tightly in the bloodstream and disintegrates too readily into its constituent parts. Scientists at the Denver company and colleagues at the Laboratory of Molecular Biology in Cambridge, England, reported today in Nature that they have corrected these problems. The
Genzyme Corp. on Wednesday said it has started clinical studies of a bioresorbable membrane designed to reduce the formation of post-surgical adhesions. The trials, under an investigational device exemption application, are expected to take two years. Spokeswoman Donna LaVoie said that the product, HAL-F, will be marketed in 1995-1996. HAL-F is one of four products based on hyaluronic acid (HA) that Genzyme is developing. The products are principally intended to be used by surgeons to reduce
InSite Vision Inc. has been awarded a $500,000 research grant from the National Eye Institute to fund clinical studies and manufacturing scale-up for an ocular anti-infective/anti- inflammatory product. The small business innovation research grant, announced Wednesday, covers the company's drug for treatment of bacterial corneal infections and prophylaxis following cataract surgery. InSite plans to file an investigational new drug application with the FDA in the latter half of this year to
Quadra Logic Technologies Inc. said Wednesday that it has adopted a stockholder rights plan designed to prevent a hostile takeover. The plan, which the Vancouver, British Columbia, company (NASDAQ:QLTIF) said was not in response to any overture, would be triggered by an investor acquiring 20 percent of shares outstanding. Stockholders would receive rights to buy shares of stock at a substantial discount. (c) 1997 American Health Consultants. All rights reserved.
Liposome Technology Inc. said Wednesday that it has raised $32 million in a secondary offering of 2 million shares of common stock at $16 per share. The stock (NASDAQ:LTIZ) lost 25 cents on Wednesday, closing at $16.50. A portion of the proceeds will be used to develop anti-cancer compounds, including vincristine sulfate and taxol. Vincristine, an off-patent compound, is in preclinical testing as Stealth Vincristine to treat small cell lung, breast and cervical carcinomas and Kaposi's sarcoma
Agracetus Inc., which claims broad proprietary rights to all forms of transgenic cotton, said Wednesday that it has granted a non-exclusive license to certain of its technology to Monsanto Co. The Middleton, Wis., subsidiary of W.R. Grace & Co. received an up-front fee and will receive royalties. The agreement excludes Agracetus' Accell particle gun technology. Other terms weren't disclosed. "Agracetus has a proprietary position pending or issued for any transgenic cotton developed by any
The cancer-fighting drug taxol may soon be synthesized from scratch rather than extracted from rare yew trees, according to the Stanford University scientist developing the technology. Paul Wender, a professor of chemistry who has been collaborating with the National Cancer Institute and Bristol- Myers Squibb Co., on Tuesday told BioWorld that his lab is "excitingly close" to achieving total synthesis of the anti-cancer agent. But he cautioned that "there is a lot of work that has to be done
Epigen Inc. has announced that it is leaving the NASDAQ to move to the AMEX's new Emerging Company Marketplace. The Wellesley, Mass., company (NASDAQ:EPIG), which is developing products for the diagnosis, monitoring and treatment of cancer patients, said it will begin trading today on the ECM under the symbol "EPN.EC." NASDAQ trading will be ended after a transition period, said James Mongiardo, company president. In a move aimed at stimulating NASDAQ defections, the AMEX earlier this month
Elan Corp. plc will apply in the fall for U.S. approval to sell a drug delivery device worn on the wrist that will allow the continuous administration of painkillers, the company said Tuesday. Panoject, which is in clinical testing at U.S. medical centers, is intended to replace intravenous drip stands and to free nurses from routine drug administration. According to the company, drug levels will stay constant in the bloodstream compared with the peaks and valleys of traditional injection
A clinical study by a University of California researcher indicates that a controlled-release system developed by Alza Corp. for oral applications is more effective than a conventional treatment. The Phase I/II trial tested Alza's Mucosal Oral Therapeutic System (MOTS) to deliver nystatin topically for the treatment of oral candidiasis. The study was conducted on 25 HIV- infected patients. The fungal infection is common in AIDS patients. The MOTS non-dissolving lozenge delivered anti-fungal
Cell Genesys Inc. has filed for an initial public offering of 3 million shares of common stock with a proposed price of $11 to $13 a share. The Foster City, Calif., company's gene targeting technology uses homologous recombination to activate, inactivate or replace specific genes in living cells. Cell Genesys is using its technology to inactivate the specific cellular genes responsible for transplant rejection. The company's goal is to create universal donor cell transplant products to treat
Teva Pharmaceutical Industries Ltd. has acquired two Italian companies, a producer of pharmaceutical chemicals and a marketer of chemicals to the pharmaceutical and chemical industries. Teva (NASDAQ:TEVIY), an Israeli pharmaceutical company based in Jerusalem, said it paid approximately $7.7 million for the two companies, whose combined 1991 sales were $12 million. The company said the acquisitions will enable it to increase its customer base in Europe and the United States. It already has
Biomira Inc. has acquired a three-year option on a worldwide exclusive license to a peptide antigen found on human breast, ovarian, colon and pancreatic cancer cells. The Edmonton, Alberta, company (NASDAQ:BIOMF) said it obtained the option from Imperial Cancer Research Technology, the licensing arm of the Imperial Cancer Research Fund in London. If Biomira exercises the option, it will pay royalties on resulting products. No other terms were disclosed. Biomira has tested the antigen in animal
Gensia Pharmaceuticals Inc. said Tuesday that its board has adopted a stockholder rights plan designed to prevent a hostile takeover. The plan, which the San Diego company (NASDAQ:GNSA) said was not in response to any overture, would be triggered by an investor acquiring 15 percent of shares outstanding. Stockholders would receive rights to buy shares of preferred stock at a substantial discount. (c) 1997 American Health Consultants. All rights reserved.
Imre Corp.Ls Prosorba immune absorption column has been used to successfully treat a patient with a variant of an immune-related blood clotting disorder, which may prove to be a new indication for the device. The Prosorba column removes harmful immune components from the blood and has been approved to treat idiopathic thrombocytopenic purpura, hemorrhaging associated with decreased platelet counts. As reported in the March 5 New England Journal of Medicine, the column was used successfully
Roberts Pharmaceutical Corp. said that its shareholders have approved a previously announced equity investment agreement with Yamanouchi Pharmaceutical Co. Ltd. A U.S. subsidiary of the Tokyo company will buy 4 million newly issued shares of Roberts common stock (NASDAQ:RPCX) for $23.84 per share, for a total of $95.4 million. The purchase will increase the number of shares of Roberts stock outstanding to 13.8 million and give Yamanouchi a 29 percent stake in the Eatontown , N.J., company.
Ecogen Inc. said Tuesday that it has purchased the remaining 19 percent of FRM Agricultural Sciences Partnership and a fermentation plant from Yissum Research Development Co. of the Hebrew University in Jerusalem. Ecogen (NASDAQ:EECN) now owns 100 percent of FASP, which has been renamed Ecogen Israel Partnership. EIP is developing biopesticides, including hyperparasitic fungi that kill other fungi, a yeast formulation to protect stored fruit from post- harvest rot, and a Pseudomonas bacterial
Chiron Corp. on Monday said it expects to take a write-off related to its acquisitions of the vaccine business of Sclavo SpA and IntraOptics Inc., an ophthalmics company, in the first quarter of 1992. The size of the charge was not disclosed, but relates to write- offs of in-process technology and other expenses associated with the deals. Chiron (NASDAQ:CHIR) also said its initial investment in Sclavo, a 50-50 venture with Ciba-Geigy, would reduce its cash during the first quarter by some $63
Synergen Inc. has started Phase III trials of its Antril interleukin-1 receptor antagonist to treat sepsis. The Boulder, Colo., company (NASDAQ:SYGN), which made the announcement Monday at the 12th Annual Cowen & Co. Health Care Conference in Boston, expects to complete the eight- country study this year and file for marketing approval in 1993. The company's shares fell $1.13 to $49 in response to negative comments by SoundView Financial Group analyst Larry Bloom, who lowered his
SciClone Pharmaceuticals Inc. has raised $22.4 million in an initial public offering of 3 million shares of common stock at $7.25 per share and 3 million warrants at 20 cents per warrant. The San Mateo, Calif., company (NASDAQ:SCLN) acquires for development later-stage proprietary drugs that have an existing base of preclinical and clinical data, focusing on infectious diseases, cancer and immune system disorders. SciClone has acquired from Alpha 1 Biomedicals Inc. worldwide rights, excluding