Recurring rumors that Xoma Corp. might be acquired by one of its marketing partners boosted the company's stock Monday, but several analysts expressed skepticism at the prospect. Xoma shares (NASDAQ:XOMA) rose $1.25 to $23.50 on reports that part or all of the Berkeley, Calif., company might be bought by Pfizer Inc. or Johnson & Johnson. Pfizer is Xoma's marketing partner for its E5 monoclonal antibody to treat gram-negative sepsis. J&J has rights to market CD5 Plus to treat graft-vs.-host
Kanebo Ltd. of Japan has obtained an exclusive license from Protein Design Labs Inc. to market SMART M195 humanized monoclonal antibody in Asia, the companies announced on Monday. M195 is a therapeutic product that attaches to myeloid leukemia cells and can be used with or without radioisotopes. PDL (NASDAQ:PDLI) plans to begin clinical trials of M195 as a therapy for myeloid leukemia this year, according to its president, Laurence Korn. The disease afflicts 15,000 patients a year in the United
DNX Corp. and Cephalon Inc. said Monday that they have formalized an ongoing collaboration to develop transgenic animal models that exhibit the amyloid plaque deposits associated with Alzheimer's disease. Under the agreement, Cephalon (NASDAQ:CEPH) of West Chester, Pa., is providing gene constructs that have been engineered based on the sequence of the amyloid precursor gene, mutants of the gene and beta amyloid. Princeton, N.J.- based DNX is developing animal models using its DNA
MGI Pharma Inc. announced on Monday that the Food and Drug Administration has designated Salagen as an orphan drug for the treatment of xerostomia (dry mouth) and keratoconjunctivitis sicca (dry eye) in Sjogren's syndrome patients. Sjogren's syndrome is a chronic condition in which the function of the lacrimal glands in the eye and the salivary glands and mucus-secreting tissue in the mouth and throat is decreased. In the United States, 55,000 people are diagnosed with the syndrome each year
Executives and scientists from U.S. Bioscience Inc. met with the Food and Drug Administration on Monday to discuss the company's application for marketing approval of Ethyol, according to Robert Kriebel, senior vice president of finance and administration. An FDA advisory committee in January recommended that the FDA deny the company's application for Ethyol as a treatment to protect healthy cells from chemotherapy. The committee questioned the clinical trials data and study design. Monday's
Phase I/II clinical results indicate that use of Oncolysin B following autologous bone marrow transplants may prevent relapse in lymphoma patients, Immunogen Inc. said Monday. Dr. Michael Grossbard of Dana-Farber Cancer Institute told the International Conference on Monoclonal Antibody Immunoconjugates for Cancer in San Diego that the 18 patients treated thus far in Phase I/II studies and pilot studies for Phase III remain in complete remission from non-Hodgkin's lymphoma, some for as long as
Deprenyl Research Ltd. said it has received Canadian government approval to distribute Alzene to Alzheimer's disease patients upon doctor's request. Doctors must receive authorization from regulatory authorities on a case-by-case basis, according to James Doherty, president of the Toronto company (NASDAQ:DEPLF). Alzene is a composition of fatty acids believed to improve the neuronal cell membrane fluidity associated with the disease. Deprenyl licensed rights to the compound from Ivax Corp
Creative Biomolecules Inc. said that it has filed for an initial public offering of 3.5 million shares of common stock priced at $10 to $12 per share. The Hopkinton, Mass., company, which is developing differentiation factors and growth factors for tissue and bone repair, raised $14 million in an October stock sale to institutional investors. In January, Creative's corporate partner, Stryker Corp., began Phase I trials of its Osteogenic Protein Device to repair non- union fractures. The device
American Biogenetic Sciences Inc. announced on Monday that it has filed an investigational new drug application for its MH-1 blood clot imaging agent. MH-1, a monoclonal antibody fragment linked to technetium, determines the location and size of clots by targeting the fibrin component of blood clots. The antibody images clots in both the lungs and heart. The Notre Dame, Ind., company (NASDAQ:MABXA) is joining a crowded field of companies that are vying for the $1 billion market for blood clot
Univax Biologics Inc. said Monday that it will test its vaccines using Nova Pharmaceutical Corp.'s Liposphere technology as a delivery system. The Rockville, Md., company (NASDAQ:UNVX) hopes Nova's technology will enhance the effectiveness of its vaccines, for example by allowing the use of lower doses of antigen. In preclinical studies, the potency of Univax's anti-endotoxin vaccine was increased seven- to eightfold when it was incorporated into the Lipospheres, according to Univax. Univax
Immune Response Corp. said investors misread the company's priorities when they bid down the stock on Friday based on reports that the company was delaying clinical tests of its preventive AIDS vaccine. The company said it remains on track to file next year for marketing approval for a therapeutic vaccine. The stock (NASDAQ:IMNR) fell $1.75 to $26.75 after trading as low as $24.75 during the session. News reports said the preventive vaccine would be delayed because of liability issues
For two health care funds that started this year, the current retreat of many biotech stocks makes now a good time to shop selectively for inexpensive shares. "We think it's the best of times to come out with a fund like ours because there are bargains," said John Kaweske, who manages the Global Health Sciences Fund, a new closed-end fund. GHS in January raised $300 million in an initial public offering of 20 million shares (NYSE:GHS) priced at $15 per share. Kaweske already manages the $1.1
Celtrix Pharmaceuticals Inc. has raised $23.6 million in a secondary offering of 2.5 million shares at $10.50 per share. The offering included 225,000 shares sold by stockholders, primarily investors in BioGrowth Inc., which merged with Celtrix (NASDAQ:CTRX) in December. The stock closed down 50 cents at $10 on Friday. Celtrix, which is developing therapeutic products based on naturally occurring, cell-regulating proteins, is focusing its efforts on BetaKine and IGF-BP3. BetaKine
Shares of Immunomedics Inc. rose $2.25 to $13 on Friday after the company presented results of Phase III clinical studies of its ImmuRaid-CEA colorectal cancer imaging agent. In a presentation at the International Conference on Monoclonal Antibody Immunoconjugates for Cancer in San Diego, the company said that in 35 percent of patients imaged with ImmuRaid, new or additional information about the disease was provided. The new information, which supplements data from CT scans, primarily involved
Idec Pharmaceuticals Corp. has begun Phase I studies of its 3C9 antibody in HIV-positive asymptomatic patients, the company said Friday. The drug is designed to stimulate a patient's immune system to launch a response against HIV by triggering antibody production from a specific subset of B cells. Idec expects 3C9 to complement many of the anti-viral drugs in development. New York Life Insurance Co. entered into a funding agreement with Idec in 1988 to provide $8.3 million in funding for the
Exogene Corp., a developer of oxygen-enhancing technologies for microbial fermentation and cell culture processes, said it has raised $6.1 million in a second round of venture funding. The Monrovia, Calif., company, which had expected to raise about $3.75 million, said the funds should be sufficient until Exogene becomes profitable in the third quarter of 1994. Investors this round include new investor Jeffry M. Picower and the initial investors, Montgomery Medical Ventures II and MedCorp
Houston Biotechnology Inc. has named A. Douglas Peabody chairman. J. Russell Denson was named president, chief executive officer and director. Peabody, who had been a director, was recently named president and managing principal of Inco Venture Capital Management. Denson was a partner in The Denson Publishing Group. Privately held Houston Biotechnology is developing products for the prevention and/or treatment of eye diseases and disorders. Thomas R. Beck has been named chairman and chief
WASHINGTON -- FDA Commissioner David Kessler on Thursday unveiled initiatives designed to speed the review of new drug applications through the Center for Biologics Evaluation and Research, including the appointment of Kathryn Zoon as director of the CBER. In a speech to the Massachusetts Biotechnology Council, Kessler also said the FDA plans to hire 50 research and review staff "for the sole attention of biotech products." Kessler said that "FDA stands ready to fulfill our duty to review
WASHINGTON -- FDA Commissioner David Kessler on Thursday announced that Kathryn Zoon, a career government scientist, has been appointed to fill the long-vacant director's job at the Center for Biologics Evaluation and Research. "Dr. Zoon was the driving force in the licensing of the first interferon product and in the licensing of other products derived from biotechnology. She has represented the agency globally on issues involving biotechnology," Kessler said in a speech to the Massachusetts
Cygnus Therapeutic Systems Inc., which is developing transdermal drug delivery systems, said Thursday that it has filed to offer 3 million shares of common stock. The Redwood City, Calif., company (NASDAQ:CYGN) expects its first commercial product to be its Nicotrol nicotine patch. Cygnus filed in December 1990 a new drug application with the FDA. Warner-Lambert has U.S. marketing rights to the patch. Three competitors have received FDA marketing approval since November. Alza Corp. and its
Recurring rumors that Xoma Corp. might be acquired by one of its marketing partners boosted the company's stock Monday, but several analysts expressed skepticism at the prospect. Xoma shares (NASDAQ:XOMA) rose $1.25 to $23.50 on reports that part or all of the Berkeley, Calif., company might be bought by Pfizer Inc. or Johnson & Johnson. Pfizer is Xoma's marketing partner for its E5 monoclonal antibody to treat gram-negative sepsis. J&J has rights to market CD5 Plus to treat graft-vs.-host