Calgene Inc. has filed for a secondary offering of 2 million shares of common stock, the Davis, Calif., company said. Calgene hopes to begin marketing in 1993 the first genetically engineered food, a tomato with enhanced shelf life. The tomato is being reviewed by the Food and Drug Administration. The ag biotech company is also developing canola oil products and herbicide-tolerant cotton. Last April, Calgene raised $21 million through an offering of 3.5 million shares at $6 per share. Calgene
MGI Pharma Inc. lost more than half its market value on Monday, closing down $11.63 at $10.75, following the announcement that the company has suspended clinical trials of MGI 136, a chemoprotective agent. The Minneapolis company (NASDAQ:MOGN) said it was immediately halting Phase III trials of MGI 136 because patients receiving the therapy were dropping out at a higher rate than those receiving a placebo, and were losing more weight, according to spokeswoman Lori Weiman. The trial was testing
Biomira Inc. and Sterling Winthrop Inc. on Monday announced a multiyear agreement to develop cancer products incorporating Biomira's monoclonal antibodies. Biomira shares (NASDAQ:BIOMF) rose $1 to $24.88. Under the agreement, Sterling of New York has an exclusive option to license worldwide, excluding Canada, five of Biomira's existing murine antibodies that recognize carbohydrates on the surface of cancer cells. The MAbs are products of Biomira's Active Specific Immunotherapy therapeutic
Alpha 1 Biomedicals Inc. said Monday that it has received a $1 million order for Thymosin alpha 1 from its Italian licensee, Sclavo S.p.A. The order is the Washington, D.C., company's first product sale. Thymosin is a synthetic version of a natural thymic hormone that plays a role in modulating the immune system. Sclavo filed last July for Italian marketing approval of Thymosin to treat several immunodeficiency diseases. It expects a decision by midyear, according to Alpha 1 (NASDAQ:ALBM
ProCyte Corp. for the first time has presented data on the mode of action of the company's Iamin peptide-copper compound in wound healing. According to data presented last week at the Society for Investigational Dermatology Conference in Carmel, Calif., the peptide portion of the compound delivers the copper ion to fibroblast cells and the copper ion activates the fibroblast to produce collagen. Fibroblasts are the cells that make collagen, one of the proteins required for wound healing. "We
Interneuron Pharmaceuticals Inc. has entered into a collaboration with Ohio University to isolate, grow and genetically engineer yolk sac stem cells. The technology, which is in very basic research, has potential applications in treating certain cancers and immune system diseases, including use in bone marrow transplants. But human uses are very far off, said Dr. Morris Laster of The Castle Group, which brought Interneuron and the university together. The mammalian embryonic yolk sac stem
DynaGen Inc. on Monday said it has filed to begin Phase II clinical trials of its NicErase System for smoking cessation. NicErase is a non-nicotine substance that acts on the nicotine receptors in the brain. It uses the company's biopolymer-based controlled release drug delivery system. "This is a weekly subcutaneous injection which takes care of the compliance and abuse issue that exists with the patch and the gum," said Jack Barlow, senior vice president for corporate planning. According to
An improved version of Oncor's B/T Gene Rearrangement Test System, used in the diagnosis and monitoring of leukemia and lymphoma, has received Food and Drug Administration marketing approval, the company announced Monday. The company's technology extracts DNA from the white blood cells of a blood sample. DNA probes then allow the clinician to use genetic markers to identify a population of cancerous cells and distinguish whether leukemias and lymphomas are of B or T cell origin. "This uses non
Medicorp Inc. has acquired exclusive North and South American rights to a technology for in vivo genetic engineering developed at the Institut Jacques Monod. The technology solves a key barrier to the integration of genetic material from different species or genera, according to the Montreal company. One barrier to integration of new genetic material in living cells is the "mismatch repair system" possessed by every cell to protect it from invasion by foreign DNA. When base pairs between two
Regeneron Pharmaceuticals Inc. said Monday that it has received orphan drug designation from the Food and Drug Administration for ciliary neurotrophic factor (CNTF) to treat amyotrophic lateral sclerosis, or Lou Gehrig’s disease. The Tarrytown, N.Y., company (NASDAQ:REGN) plans to begin clinical trial of CNTF, its lead product, by midyear. In animal studies, CNTF has been shown to promote the survival of motor neuron cells that degenerate and die in people with ALS, the company said
G-CSF Preferable in Some Cases Physicians have reported a reaction to bone marrow stimulators that led them to conclude that G-CSF is a better choice than GM-CSF in some cases for treating complications of chemotherapy. Doctors at Medical College of Pennsylvania in Philadelphia were treating a woman who had undergone extensive chemotherapy for lymphoma. The patient developed fever and loss of white blood cells. Treatment with GM-CSF appeared to cause destruction of her red blood cells. After
Neurogen Corp. said Friday that it could receive up to $50 million under a development and commercialization agreement it has signed with Pfizer Inc. to develop drugs to treat anxiety. The deal is Neurogen's first corporate partnership. Pfizer will fund a five-year joint research and development program at Neurogen, which also will receive milestone payments and sales royalties. In exchange, Pfizer received worldwide manufacturing and marketing rights to one anxiolytic drug developed through
Immunex Corp. shares fell $4.25 on Friday to $59.25 following negative comments by Oppenheimer & Co. analyst Jeffrey Casdin. Casdin said the Seattle company's flat fourth-quarter sales of Leukine granulocyte macrophage colony stimulating factor end hopes for earnings growth based on sales. Immunex on Thursday said it sold $29.1 million of the white blood cell stimulator in 1991, plus $4.1 million in bulk sales. "Profitability will be a struggle for the foreseeable future without income from
Baker Cummins Pharmaceuticals Inc., a subsidiary of Ivax Corp., has received an exclusive worldwide license for a small molecule drug to reduce toxicities associated with chemotherapy and radiation therapy. Cummins plans to begin U.S. clinical trials this year, probably in Phase II, to study the chemoprotective effects in cancer patients. The drug, IVX-Q101, is in Phase II trials in lung cancer patients in Israel. The drug was licensed from professors Michael Albeck and Benjamin Sredni of Bar
Cygnus Therapeutic Systems Inc., which is scaling up to bring products to market, has appointed Gregory B. Lawless president and chief executive officer. Lawless, the former Chiron Corp. president, who was left out of the reorganization following Chiron's merger with Cetus Corp., has brought a company from the lab to the marketplace, and "we needed somebody who had done that before," said Gary Cleary, Cygnus' founder and chairman. Last week the company (NASDAQ:CYGN) said increased spending for
Cel-Sci Corp. said Friday that it raised $14 million in a public offering of 900,000 units at $15.50 per unit. Each unit consists of five shares of common stock (NASDAQ:CELI) and five warrants. Each warrant may be exercised to buy one share of common stock at $4.65 per share through Feb. 6, 1995. Cel-Sci shares closed at $3.28, down 22 cents, on Friday. After the offering, the Alexandria, Va., company, which is developing drugs to treat cancer and to treat and prevent AIDS, has 40.7 million
Oncor Inc. said Friday that underwriters Smith Barney, Harris Upham & Co. Inc. and Vector Securities International Inc. have exercised their 450,000-share overallotment option at $10.50 per share, raising an additional $4.7 million. In January, the company raised $31.5 million through the sale of 3 million shares (NASDAQ:ONCR). Stock of the Gaithersburg, Md., company, a developer of DNA probe test systems and related products for cancer and genetic diseases, gained 25 cents on Friday to $12.63
A treatment for low blood pressure has been shown in clinical studies to enable people with orthostatic hypotension to stand without dizziness or fainting. By comparison, the eight-patient trial of Roberts Pharmaceutical Corp.'s Amatine showed that no improvement was seen with a related drug, ephedrine, which has been tried for this condition in the United States. No approved drugs are available for the problem in the United States, but Amatine has been used in Europe to treat orthostatic
Immune Response Corp., Rhone-Poulenc Rorer Inc. and Pasteur Merieux Connaught Group announced on Friday that they are discussing formation of a joint venture to manufacture clinical and commercial supplies of Immune Response's therapeutic HIV vaccine. Shares of San Diego-based Immune Response (NASDAQ:IMNR) closed down 75 cents at $35. Immunization Products Ltd., an existing joint venture between Immune Response and Rhone-Poulenc, is conducting Phase II/III trials of the drug and anticipates
Ivax Corp. and Trinity Capital Enterprise Corp. said Thursday that they have signed a letter of intent for the merger of two of Ivax's wholly owned subsidiaries with Trinity through a stock swap worth about $245 million. Trinity (NASDAQ:TICO) would receive all of the common stock of Diamedix Corp. and GDU Trading Co., would issue to Ivax 20 million shares of Trinity common stock. After the merger, Ivax would have 87 percent of Trinity shares outstanding. Ivax (AMEX:IVX) also would receive
Calgene Inc. has filed for a secondary offering of 2 million shares of common stock, the Davis, Calif., company said. Calgene hopes to begin marketing in 1993 the first genetically engineered food, a tomato with enhanced shelf life. The tomato is being reviewed by the Food and Drug Administration. The ag biotech company is also developing canola oil products and herbicide-tolerant cotton. Last April, Calgene raised $21 million through an offering of 3.5 million shares at $6 per share. Calgene