Magainin Pharmaceuticals Inc. has filed for an initial public offering of 2 million shares of common stock with a proposed price range of $10 to $12 per share. If the offering is completed, the Plymouth Meeting, Pa., company will have 8.3 million shares outstanding. Magainin is developing drugs based on a family of host-defense peptides called magainins to treat infections and certain cancers, and to promote wound healing. Magainins kill infected or diseased cells by forming a channel through
Immune Response Corp. has grossed $44 million in a secondary stock offering, the company said Tuesday. Of the 1.3 million shares priced at $44, a stockholder sold 300,000 shares. After the offering, the San Diego company has 14.9 million shares outstanding. Underwriters Montgomery Securities and Robertson, Stephens & Co. have a 195,000-share overallotment option. The stock (NASDAQ:IMNR) gained $3.25 to close at $49 on Tuesday after Montgomery Securities analyst Brandon Fradd reiterated an
Genentech Inc. said Tuesday that it is accepting bids for the auction of GLC Associates, which owns proprietary rights to novel technology for the synthesis of vitamin C. GLC is developing a DNA-based route for the single-step conversion of glucose to 2-keto-L-gluconate, a key intermediate in the synthesis of the vitamin. Genentech of South San Francisco, Calif., is required to divest its 50 percent interest in GLC under terms of an agreement reached with the Federal Trade Commission in
Xoma Corp. scored its first victory in many months late Monday, when a U.S. District Court jury ruled unanimously in its favor in its patent suit against Centocor Inc. over rival antibody products to treat gram-negative sepsis. The six-member jury found that Xoma's U.S. patent No. 4,918,163 is valid, that Centocor infringed the patent both literally and under the doctrine of equivalence, and that Centocor does not have an implied license to the patent. In a written statement, Centocor said the
Genentech Inc. has won market exclusivity in Japan for its tissue plasminogen activator, the company announced on Monday. In a preliminary injunction issued last week, an Osaka District Court ruled that sales of t-PA by Toyobo Co. Ltd. infringed Genentech's Japanese patent for the heart attack drug. A final ruling is expected on Wednesday. The action makes Genentech's product the only t-PA sold in Japan. Genentech's licensees are Mitsubishi Kasei Corp. and Kyowa Hakko Co. Ltd. Mitsubishi has a
Collagen Corp. suffered a $2.5 million loss in the last quarter, primarily as a result of continuing legal and regulatory travails involving its injectable collagen products, the company said Monday. The Palo Alto, Calif., company lost 25 cents a share in its first quarter ended Sept. 30, compared with earnings of $479,000, or a 5 cent gain per share in the comparable 1990 quarter. Net income for the year prior period was reduced by $1.3 million in charges associated with discontinued
Genzyme Corp. stock rose $1.88 to $48.25 on Monday after the company reported record financial results for the third quarter ended Sept. 30. The Cambridge, Mass., company had net income of $5.2 million, or 22 cents a share, on revenues of $33.1 million. Genzyme (NASDAQ:GENZ) posted a net loss of $950,000, or 6 cents a share, on revenues of $13.9 million for the comparable 1990 quarter. Product sales for the 1991 quarter were $22.8 million, compared with $9.8 million for the 1990 quarter. Of
Escagenetics Corp. said Monday that it has entered into an agreement with Quest International, a division of Unilever, to scale up production of Escagenetics' PhytoVanilla and PhytoVanillin flavorings. The natural flavorings, which are derived from cell culture technology, were developed to compete with synthetic vanillin and the more expensive natural vanillin extract. Scale up will be undertaken at Quest's facilities for product development and market analysis. Quest will fund the work, said
Bainbridge Laboratories Inc. has received clearance from the Food and Drug Administration to market its PyloriTRAK diagnostic test for Helicobacter pylori, a bacterial infection associated with development of stomach ulcers, gastritis and stomach cancer. Seattle-based Bainbridge, which is investigating marketing relationships, estimates a potential annual U.S. market for the tests at $60 million. Enteric Products Inc., Hycor Biomedical Inc., Whittaker Bioproducts Inc., Biomerica Inc., Meridian
North American Vaccine Inc. said it has executed a license agreement with Harvard University for patented technology to be used in the development of a vaccine against Group B streptococcus infections. Terms were not disclosed. The Food and Drug Administration has not approved any vaccine for Group B streptococcus, according to the company. The disease is a bacterial infection that principally occurs during the first two months of life and can cause death or permanent brain damage resulting
Stockholders of Ivax Corp., a holding company with subsidiaries involved in pharmaceuticals, medical diagnostics and specialty chemicals, have approved a 3-for-2 stock split, payable on or about Nov. 15 to shareholders of record as of Oct. 28. The Miami company also said Monday that stockholders approved an increase in the number of shares issuable under the Ivax stock option plan from 50 million shares to 250 million shares. The stock (NASDAQ:IVX) closed Monday at $39.63, up $2.75. (c) 1997
GAITHERSBURG, Md. -- Members of an expert panel convened by the Food and Drug Administration on Friday said they do not see convincing evidence of a statistically significant relationship between injectable collagen products and the onset of autoimmune diseases, particularly polymyositis/dermatomyositis (PM/DM). Stock of Collagen Corp. (NASDAQ:CGEN), which has been besieged by patient suits and other adverse publicity about collagen products, climbed $3 Friday on the news, closing at $20.75
Anergen Inc. said Friday that an academic physician has begun small-scale human pilot studies using the company's therapeutic approach to treat multiple sclerosis. The researcher is using major histocompatibility complex II (MHC II) derived from MS patients, combined with the specific epitope for myelin basic protein. The company's compounds, called AnergiX, are designed to inactivate the specific T cells associated with autoimmune diseases. AnergiX contain two of the primary elements that
DNX Corp. said Friday that it has filed for an initial public offering of 2.5 million shares of common stock with a proposed price of $13 to $15 per share. If the offering is completed, the Princeton, N.J., company will have about 9 million shares outstanding. In September, DNX raised $12.1 million in second-round venture financing. The company is developing transgenic animals to produce human therapeutics such as human hemoglobin for use as a blood substitute and human serum albumin as a
Alkermes Inc. on Friday said it raised $35 million in a public offering of 2 million shares of common stock at $17.50 per share. The company, which is developing products to deliver compounds across the blood-brain barrier, has 9.6 million shares outstanding after the offering. Underwriters Robertson, Stephens & Co. and J.P. Morgan Securities Inc. have a 300,000- share overallotment option. In July, the Cambridge, Mass.- based company netted $18 million from an initial public offering of 2
Ecogen Inc. has signed a worldwide gene licensing agreement with Monsanto Co. to develop and market seeds containing Ecogen's insecticidal genes derived from Bacillus thuringiensis. The BT bacteria genes produce a protein toxic to insects, but harmless to mammals. Monsanto of St. Louis will use the genes to develop cotton, potatoes, tomatoes and corn resistant to caterpillars and beetles. Langhorne, Pa.-based Ecogen will receive license fees based on milestones as well as royalties on sales
Immunomedics Inc. has begun European trials of one of its monoclonal antibody contrast agents to detect infection, and has won an orphan product grant to study two more of its imaging agents to detect malignancies. The infection imaging agent, ImmuRAID-MN3, expands the company's product line beyond the cancer field. As with its other imaging agents, a monoclonal antibody is linked to a common contrast agent, technetium-99m, to target granulocytes that congregate at infection sites. Preliminary
ImmuCell Corp. (NASDAQ:ICCC) of Portland, Maine, has appointed Thomas Hatch, formerly manager of commercial development, to president and chief executive officer. He replaces Thomas Adelman, who was appointed chairman. Michael F. Brigham, formerly director of finance and administration, was named chief financial officer of the maker of human and bovine diagnostics. George R. Evanega, Ph.D., was named president and chief operating officer of Oncor Inc. Evanega was corporate vice president, chief
NeoRx Corp. has repurchased $7 million principal amount of its $8.2 million par value 9.75 percent convertible subordinated debentures in exchange for 1.74 million shares of common stock. The Seattle company, a developer of monoclonal antibody- based products to treat and detect cancer, has 18.7 million shares outstanding after the transaction. The repurchase will reduce NeoRx's annual interest payments by $680,000, leaving it with $1.2 million principal amount of debentures outstanding and
Cephalon Inc. said Friday that it has received orphan drug designation from the Food and Drug Administration for Myotrophin to treat amyotrophic lateral sclerosis. Myotrophin recombinant IGF-1 (insulin-like growth factor) is a protein that stimulates the growth and prolongs the life of motor neurons. ALS, or Lou Gehrig's disease, is a progressive nervous system disorder affecting about 30,000 people in the United States. There is no known cause or cure. The West Chester, Pa., company recently
Magainin Pharmaceuticals Inc. has filed for an initial public offering of 2 million shares of common stock with a proposed price range of $10 to $12 per share. If the offering is completed, the Plymouth Meeting, Pa., company will have 8.3 million shares outstanding. Magainin is developing drugs based on a family of host-defense peptides called magainins to treat infections and certain cancers, and to promote wound healing. Magainins kill infected or diseased cells by forming a channel through