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
WASHINGTON -- An FDA advisory committee will meet on April 20 and 21 to review three AIDS issues: Hoffmann LaRoche's application for use of ddC to treat HIV infection; the use of CD4 cell count as a surrogate marker in studies of drugs to treat HIV; and new clinical data related to Bristol-Myers Squibb's ddI treatment for the virus. The Antiviral Drugs Advisory Committee will be discussing ddI and CD4 markers for the second time. Last July, the panel recommended approval of Squibb's ddI
Matrix Pharmaceutical Inc. has begun Phase I/II trials of its MPI 5011 Therapeutic Implant product in patients with prostate cancer, the company said Monday. Therapeutic Implants are composed of a biodegradable protein matrix, a chemotherapeutic agent and a chemical modifier that acts as a "chemical tourniquet" to hold the drug within the diseased tissue. MPI 5011 contains the chemotherapeutic flourouracil. The Menlo Park, Calif., company (NASDAQ:MATX) plans to begin this quarter Phase I/II
A bacterial product shows promise as a potential cure of Kaposi's sarcoma, the skin condition associated with AIDS, according to reports today in Science. A team including researchers at Daiichi Pharmaceutical Co. of Japan reported that the bacterial component can heal Kaposi's lesions in mice and is non-toxic, unlike existing treatments for the skin condition. An accompanying news report said that the Japanese company has purified and is completing preclinical testing of the naturally
Roberts Pharmaceutical Corp. said Friday 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
North American Vaccine Inc. said it has settled a lawsuit filed in a Maryland state court by Dr. Ronald Sekura over foreign patent rights to its acellular vaccine toxoid for the prevention of whooping cough. Sekura was a founder and former senior vice president of vaccine production at the company. The suit "was related to a termination of his employment relationship and a claim regarding a foreign patent licensing agreement," said Daniel Abdun-Nabi, senior vice president of legal affairs
Enzo Biochem Inc.'s debt restructuring has enabled the troubled company to post a profit in its second quarter ended Jan. 31. The Farmingdale, N.Y., company (AMEX:ENZ) on Monday reported net income of $925,000, or 8 cents a share, on operating revenues of $5 million. Net included a $1.2 million gain from the conversion of $29 million of debt to equity during the quarter. In the comparable 1991 period, the company lost $1.9 million, or 17 cents, on operating revenues of $4.6 million. Operating
U.S. Bioscience Inc. on Monday said it has granted Schering- Plough Corp. exclusive marketing rights to five anti-cancer drugs in more than 35 countries in Latin America and the Far East. The agreement covers marketing rights to Hexalen, Ethyol, WR- 151327, PALA and Rogletimide in Mexico, Brazil, Argentina, India, China and other countries. The United States, Europe, Japan, Korea and Thailand are excluded. Schering-Plough will pay royalties and other undisclosed payments, according to Ellen
Immunomedics announced on Monday Phase I/II clinical trial results indicating that its infectious disease imaging agent, ImmuRAID-MN3, is able to detect osteomyelitis and infections in prosthetics joints. The data was presented at the Cowen & Co. Health Care Industry Conference in Boston. The trials of the white blood cell-targeting monoclonal antibody fragment, which is labelled with technetium-99m radioisotope, were conducted on 17 patients. In one case, the agent detected osteomyelitis in
Mycogen Corp. on Monday said that its MVP bioinsecticide has received regulatory approval for commercial sale in California. The Bacillus thuringiensis-based product, which controls caterpillar pests that attack broccoli, cauliflower, lettuce, tomatoes, grapes and other crops, has received federal approval and approval in every other state. The San Diego company (NASDAQ: MYCO) expects to capture $500,000 of the estimated $9 million market for insecticides used on California grapes this year
DDI Pharmaceuticals Inc. stock plunged 57 percent Friday after the company released a letter to shareholders explaining that preliminary analysis of Phase III trials of its bovine superoxide dismutase (bSOD) showed no significant effects on knee pain in patients treated for osteoarthritis. The stock (NASDAQ:DDIX) closed at $3.13, dropping $4.13. The letter was released because "our legal advisers told us that we needed to get information out to the public promptly," said Mark Saifer, vice
This month's flat stock market hasn't stopped biotech companies from filing for public stock offerings. The financing queue continues to be replenished as quickly as offerings are completed. Several of the leading stock market averages have hovered within a narrow range this month. The Dow Jones Industrial Average is down 1.2 percent and the NASDAQ Composite Index is down 2.7 percent. The AMEX Biotechnology Index is down 3.6 percent, but it has been moving in a narrow range between 191.88 and
Cellcor Inc., a developer of living cell therapies, raised $22 million in its initial public offering of 2 million shares of common stock at $11 per share, the company announced on Friday. The Newton, Mass., company (NASDAQ:CLTX) sold its shares at the low end of its proposed $11 to $13 price range. The stock closed at $11.50 on Friday. Cellcor's first therapy uses a patient's own white blood cells (autolymphocytes) to treat certain cancers. The cells are grown in vitro in the presence of a
The Liposome Co. Inc. on Friday said it netted $38.6 million in a secondary offering of 3 million shares of common stock priced at $13.75 per share. The stock (NASDAQ:LIPO) closed down 38 cents Friday at $14. The proceeds will be used primarily to continue development and clinical testing of the Princeton, N.J., company's self-funded products, including TLC-G65 and TLC C-53. G-65 is a liposomal gentamicin to treat Mycobacterium avium intracellulare, a common infection in AIDS patients. G-53 is
The Food and Drug Administration has given the green light to market Ortho Diagnostic Systems Inc.'s HCV 2.0 ELISA Test System for the hepatitis C virus, just one day after an advisory panel recommended approval of the second-generation screening test. Ortho is marketing the test, which costs about $3.50, for Chiron Corp. of Emeryville, Calif. Chiron (NASDAQ:CHIR) makes the three antigens that comprise the test. Test kits "went out the door in trucks today, and testing with the second
CellPro Inc. said Friday that its Ceprate SC Stem Cell Concentration System is being used in a gene therapy trial in patients with chronic myelogenous leukemia. The Phase I/II trial, in collaboration with the University of Texas MD Anderson Cancer Center, will use Ceprate to enrich normal stem cells obtained from the bone marrow of CML patients for use in autologous bone marrow transplants. The first patient was enrolled on March 6. Concentrated stem cells will then be genetically modified
Synaptic Pharmaceutical Corp., formerly Neurogenetic Corp., has filed for an initial public offering of 2.5 million shares of common stock priced at $10 to $12 per share, the company said. Synaptic said it changed its name to reflect its focus on drugs that act at the synapse, the key site of signal transmission within the nervous system. The Paramus, N.J., company, founded in 1987, is developing drugs to modulate the functioning of the nervous system, focusing on disorders that have
John Byington, formerly a partner in the Washington, D.C., law office of Pillsbury, Madison & Sutro, has been named president and chief operating officer of Synthecell Corp and its wholly owned subsidiary, Genetic MediSyn, both of Rockville, Md. Synthecell founder James Hawkins will continue as chairman and chief executive. Privately held Synthecell manufactures custom synthetic DNA and peptides. Genetic MediSyn is focused on antisense technology. Stephan A. Duzan, chairman and chief executive
BioChem Pharma Inc. has announced that its 3TC compound, which is now in Phase I/II trials as a potential treatment for the AIDS virus, has been found active against the hepatitis B virus. Scientists at the Fifth International Conference on Anti-Viral Research in Vancouver, British Columbia, last week presented results on the activity of 3TC against hepatitis B in vitro and in animal models. 3TC was reported to be active in primates infected with the human virus. Dr. David Tyrrell of the
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