Vical Inc. has raised $9.5 million in an oversubscribed round of venture financing, the gene therapy company said Monday. The round was led by Venrock Associates, which, along with U.S. Venture Partners, Grace Horn Ventures and Sorrento Associates, is making its first investment in Vical. Previous investors participating in the round were Hillman Ventures, Morgenthaler Ventures, Sanderling Venture Partners, Security Pacific Capital and Sutter Hill Ventures. The money will be used to develop
Mycogen Corp. stock gained $1.50 on Monday after the company announced that its scientists have discovered diverse strains of the Bacillus thuringiensis bacterium that expand the range of pests that can be treated by Bt-based products. Leo Kim, executive vice president of research and chief technical officer, said the discoveries offer the prospect of Bt products controlling a number of pests that plague animals and humans, including the common adult house fly, flatworms and protozoa. The
California Biotechnology Inc. said Monday that it has changed its name to Scios Inc. Effective immediately, the Mountain View, Calif., company's stock will trade on NASDAQ under the symbol "SCIO." The company's old symbol was "CBIO." Scios is developing products to treat cardiopulmonary disease and metabolic disorders and for tissue repair. (c) 1997 American Health Consultants. All rights reserved.
Syntro Corp., which is developing genetically engineered vaccines for the animal health market, on Monday said it has filed for a secondary offering of 3 million shares of common stock. Last month, Syntro (NASDAQ:SYNT), Hoechst-Roussel Agri-Vet Co. and Hoechst Veterinar GmbH said they signed a letter of intent to collaborate on the development of cattle and equine vaccines based on Syntro's viral vector technology. The Hoechst companies will fund the multiyear development program, which is
Organogenesis Inc. has presented data showing that two of its human skin equivalents perform similarly to human skin in toxicology testing. Testskin LSE incorporates both the dermal and epidermal layers of skin, including the stratum corneum of the epidermal layer. The stratum corneum reproduces the barrier function of skin, preventing pathogens from entering the system. According to the Cambridge, Mass., company (AMEX:ORG), Testskin performs like human skin in evaluating the penetration and
Canguard Health Technologies on Monday said it has filed a motion to dismiss a patent infringement suit filed in Canadian Federal Court by Deprenyl Research Ltd. and Chinoin Pharmaceutical and Chemical Works Co. Ltd. The dispute involves Canguard's development of a generic based on l-deprenyl, called Parkinyl. Chinoin, a Hungarian company, licensed Canadian rights to its production patent on l-deprenyl to Deprenyl Research. Deprenyl calls its version Eldepryl. The drug is a treatment for late
Researchers have published findings documenting biochemical changes in the brains of Alzheimer's victims that may prove to be particular to the disease. The scientists, reporting in the March 1 issue of the Proceedings of the National Academy of Sciences, presented evidence for abnormal metabolism of the lipids in nerve cell membranes in Alzheimer's cases. In brains from people who died with the disease, the cell membrane ingredients choline and ethanolamine were depleted 30 percent to 50
GenDerm Corp., which develops and markets products to control pain and treat skin and allergic disorders, has filed for an initial public offering of 2.6 million shares of common stock with a proposed price of $12 to $14 a share. Of the shares being offered, 900,000 would be sold by selling stockholders, including the founder, Dr. Joel Bernstein, and certain venture investors. GenDerm's core technologies are focused on neuropeptide- active compounds and histamine antagonists. Neuropeptide
CellPro Inc. was to announce today that its Ceprate SC Stem Cell Concentration System will be used in a gene therapy trial designed to cure adenosine deaminase deficiency. The trial, approved last month by the Recombinant DNA Advisory Committee of the National Institutes of Health, will purify stem cells from the peripheral blood of patients using the CellPro system. Ceprate concentrates stem cells using monoclonal antibodies that bind to stem cells bearing the CD34 marker molecule. Those stem
British Bio-technology Group plc said Friday that it has completed Phase I testing of its AIDS immunotherapeutic in healthy, HIV-negative male volunteers. Multinational Phase II trials of the drug, which is designed to delay the onset and/or slow the progression of AIDS, will begin later this year, said Anne McBride, a spokeswoman for the Oxford-based company. Phase I subjects showed no significant adverse reactions, and the vaccination produced the predicted cellular and antibody immune
Biotechnology companies tracked by BioWorld raised $309.1 million through public offerings in February, bringing to $995.8 million the total raised in the public markets this year. Univax Biologics Inc. and EcoScience Corp. raised $76.6 million in initial public offerings in February, bringing the total IPO funds raised by 11 companies this year to $481.8 million. Seven companies have filed for offerings that would be worth about $231 million if completed. Six companies raised $232.5 million
Scientists at Bio-Rad Pty. Ltd. in Victoria, Australia, and collaborators showed that a porphyrin compound can sensitize otherwise incurable brain cancer to radiation and chemotherapy. Brain tumors called high-grade gliomas kill 10,000 Americans annually. In lab mice, the Australians and colleagues at the University of California, San Francisco, combined two sensitizing treatments, light sensitization by porphyrin (PDT) and neutron capture by boron. The boronated protoporphyrin selectively
The board of directors of Immune Response Corp. has adopted a stockholder rights plan designed to prevent a hostile takeover. The plan, which the San Diego company 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. Immune Response (NASDAQ:IMNR), which is developing treatments for AIDS and autoimmune diseases, closed at $29.50, down 13
Harold S. Geneen, formerly chairman of the board of directors of ITT Corp., has been appointed to the board of Ivax Corp. of Miami. Geneen is on the board of trustees of the Salk Institute and the board of governors of the School of Medicine of the University of Miami. Ivax (AMEX:IVX) is a holding company with subsidiaries in specialty chemicals, pharmaceuticals and medical diagnostics. Nova Pharmaceutical Corp. of Baltimore has named Michael J. Demchuk Jr. vice president and chief financial
Future Medical Products Inc. has exercised its right, a year ahead of time, to repurchase 5.2 million shares of stock of its Viromedics Inc. subsidiary, which is developing an AIDS "disinfectant" with potential therapeutic applications. The shares, originally sold to CCC Franchising Corp. in 1990, give FMP 12 million shares, or 60 percent, of the 20 million Viromedics shares outstanding. Viromedics is testing the activity against HIV of a class of organic compounds called alkylureas. "To the
Gensia Pharmaceuticals Inc. soared $12.50 on Thursday on publication of results from Phase II testing of Arasine, indicating that the cardiovascular drug significantly decreased signs of heart muscle injury during bypass surgery. The stock (NASDAQ:GNSA) closed at $62 on trading of 17.9 million shares. The data, to be presented at the April meeting of the American College of Cardiology, showed that bypass patients using the drug had a statistically significant 38 percent reduction in levels of
Immunex Corp.'s colony stimulating factor fused to interleukin- 3 is helping to establish a new mouse model for human blood cell production, a model that also promises new approaches to gene therapy. University of Toronto researchers transplanted human bone marrow into immune-deficient SCID mice, then gave the animals mast cell growth factor and the fused GM-CSF-IL-3 molecule that Seattle-based Immunex (NASDAQ:IMNX) calls PIXY321. The factors greatly enhanced the extent of marrow grafting
Pharmatec Inc. and Pharmos Corp., two companies in which investor David Blech has substantial equity interests, said Thursday that they have entered into a letter of intent to merge. The proposed stock swap could be worth about $52.6 million based on Thursday's closing price of $4.38 for Pharmatec shares. The stock (NASDAQ:PHTC) was down 25 cents. Under the proposed terms, the Alachua, Fla., company would issue 0.75 shares of a new class of convertible common stock, for a total of 12 million
Epigen Inc. said it has signed an agreement with the University of Oslo in Norway to characterize the human carcinoma antigen, which company-sponsored research has shown to be present on the cell membranes of virtually all epithelial carcinomas. The research will be conducted by Svein Haavik, associate professor at the Institute of Pharmacy at the university and a member of Epigen's scientific advisory board. Characterizing the HC antigen will allow the Wellesley, Mass., company to expand its
Cor Therapeutics Inc. said Thursday that it has started Phase II trials of its first product, Integrelin, to treat unstable angina. Unstable angina is a severe cardiovascular condition caused by a transient blockage of a coronary artery as a result of thrombosis, and can lead to a heart attack. It affects more than 500,000 people annually in the United States. Integrelin acts as an anti-thrombotic compound by inhibiting platelet aggregation. The peptide is a rapidly reversible blocker of GPIIb
Vical Inc. has raised $9.5 million in an oversubscribed round of venture financing, the gene therapy company said Monday. The round was led by Venrock Associates, which, along with U.S. Venture Partners, Grace Horn Ventures and Sorrento Associates, is making its first investment in Vical. Previous investors participating in the round were Hillman Ventures, Morgenthaler Ventures, Sanderling Venture Partners, Security Pacific Capital and Sutter Hill Ventures. The money will be used to develop