ImmuLogic Pharmaceutical Corp. said Tuesday that Marion Merrell Dow Inc. has purchased 1 million shares of ImmuLogic common stock for $18 per share as part of the companies' collaboration to develop ImmuLogic's allergy therapeutics. ImmuLogic (NASDAQ:IMUL) also received $1.16 million in consideration for a three-year option that the company granted MMD to acquire 250,000 shares of stock at an exercise price of $35 per share. The Cambridge, Mass., company's Allervax compounds consist of an
Chiron Corp. on Tuesday said it has received word from the British patent office that it will be issued a broad patent covering the hepatitis C virus, its antibodies and related compounds. The patent covers the antigenic viral polypeptides -- regardless of the method of production -- antibodies to the virus, and use of both in immunoassays. Also covered are the composition of virus polynucleotides and their use in recombinant proteins, and tests for the virus based on DNA probes and polymerase
A U.S. patent was issued Tuesday to Immunex Corp. for its fusion molecule, a combination of two immune proteins that may prove more powerful than either used alone. The patent, No. 5,073,627, covers configurations of analogs of the proteins GM-CSF and IL-3, immune system messengers that the company (NASDAQ:IMNX) is developing to treat blood deficiencies induced by chemotherapy. It also covers the segment of amino acids that links the molecules. The company said it also received a notice of
Protein Design Labs Inc. said Tuesday that it has filed for an initial public offering of 2.5 million shares of common stock with an estimated price of $10 to $12 per share. The Mountain View, Calif., company is involved in computer- based design of proteins, primarily monoclonal antibodies, to treat autoimmune disease and inflammation, cancer, and viral infections. PDL has developed five humanized mouse antibodies, which are produced from a human antibody gene that has been genetically
Stock of SyStemix Inc. jumped $19.75 to $53 Monday after the company announced that Sandoz Ltd. will acquire 60 percent of SyStemix's common stock for $392 million. Sandoz will acquire through a tender offer slightly more than 4 million shares, or 49 percent, of SyStemix shares outstanding on a fully diluted basis for $70 per share. The Swiss company will also make a $111 million equity investment through the purchase of about 2 million newly issued shares of stock (NASDAQ:STMX) at $56 per
Researchers at GenPharm International on Monday presented a new transgenic mouse that expresses a broad range of human antibodies, thus serving as a potential source of therapeutic monoclonals that will not be rejected by human patients. Using the mice, the Mountain View, Calif., company intends to develop monoclonals on its own and is "setting up relations with pharmaceutical companies that have antigens for which they want antibodies," Dr. Jonathan MacQuitty, president and chief executive
Gilead Sciences Inc. said Monday that it has filed for an initial public offering of 3 million shares of common stock at a proposed price of $12 to $14 per share. Gilead is developing drugs based on nucleotides, the building blocks of DNA and RNA. The company, which is targeting viral infections, cardiovascular disease, inflammatory disease and cancer, is the last of the so-called antisense companies to go public this year. In July 1990, Gilead formed a $20 million corporate partnership with
Oncor Inc. that it has filed for a secondary offering of 3 million shares, its first foray into the public offerings market this year. Oncor markets for research use probes for the detection of cancer and genetic disease. The company also has Food and Drug Administration-approved probes and reagents for the diagnosis of leukemia and lymphoma. Oncor (NASDAQ:ONCS) was up 63 cents Monday, closing at $7.38. For the third quarter ended Sept. 30, Oncor posted a net loss of $1.4 million, or 13 cents
The board of directors of U.S. Bioscience Inc. on Monday declared a 2-for-1 split of the company's common stock in the form of a 100 percent stock dividend. The dividend will be payable on Jan. 16 to shareholders of record as of Dec. 26. U.S. Bioscience will have 39.2 million shares outstanding after the split. Shares of the West Conshohocken, Pa., company's stock (AMEX:UBS) rose $2.25 to $78.63 on Monday. The stock was trading at $39.63 when the company announced Nov. 19 that its Ethyol
The Liposome Co. Inc. of Princeton, N.J., has entered into an agreement with 3M in which the St. Paul, Minn., health care products manufacturer will evaluate liposomal gentamicin. The company's liposomes, which deliver gentamicin to macrophage cells residing in the liver and spleen, are in Phase II trials for treating an opportunistic infection in AIDS. 3M has purchased for an undisclosed sum an option to negotiate a licensing agreement on non-intravenous use of the liposomal drug. Liposome Co
Results of Phase IB trials of the anti-AIDS drug GLQ223 showed that the purified form of trichosanthin is safe and well- tolerated, and clinically active according to several immunologic markers, Genelabs Technologies Inc. said Monday. Markers used to chart the clinical course of GLQ223 were a significant, dose-related increase in T-3 white blood cells, which include CD4 and CD8 cells, and elevations in levels of beta-2-microglobulin, a change believed to indicate destruction of HIV-infected
Liposome Technology Inc. scientists have published results of the company's Stealth liposomes in mice, showing that the encapsulating particles can accumulate in experimental tumors and persist in the bloodstream for increased periods of time. As a delivery system for anti-cancer and anti-fungal drugs, conventional liposomes can cut drug toxicity. But the microscopic particles are selectively scavenged by the liver, spleen and other components of the reticuloendothelial system, limiting their
Alteon Inc. said Friday that Marion Merrell Dow Inc. has exercised an option to expand their strategic alliance to include Europe and certain other markets. MMD will pay Alteon $5 million for the exercise of the option. In December 1990, Alteon and MMD formed an alliance in North America to develop and commercialize Alteon's technology for therapeutics to treat the complications of diabetes and aging. MMD has a 7.7 percent equity stake in Northvale, N.J.-based Alteon. Alteon shares (NASDAQ
The U.S. District Court in San Francisco on Friday cleared the way for sales of Alza Corp.'s Nicoderm transdermal nicotine patch to begin immediately. Judge John Vukasin denied a request by Elan Corp. plc and American Cyanamid Corp. for a preliminary injunction to prevent Nicoderm sales. The judge also lifted his gag order and a Nov. 21 restraining order on Nicoderm. Shares of Palo Alto, Calif.-based Alza (AMEX:AZA) rose $1.50 on Friday to $88.75. Alza and its marketing partner, Marion
EJ Financial Enterprises Inc. has purchased a 30 percent equity interest in CarboMed Inc. for an undisclosed sum. CarboMed was founded in June 1990 to develop carbohydrate- based compounds to diagnose and treat infectious diseases and cancer. The company's lead compound is GBS-toxin, a polysaccharide toxin made by group B streptococcus, said Carl Hellerqvist, a founder of CarboMed. The drug is now in animal trials, and CarboMed hopes to begin clinical trials next year to treat solid tumors
Celtrix Laboratories Inc. last week completed its previously announced merger with BioGrowth Inc. and changed its name to Celtrix Pharmaceuticals Inc. Palo Alto, Calif.-based Celtrix (NASDAQ:CTRX) jumped $2 Friday to close at $14.75. The companies, which are developing cell-regulating proteins, merged through an exchange of stock. All outstanding common and preferred shares of privately held BioGrowth were exchanged for 950,000 newly issued shares of Celtrix common stock, or about 16 percent
Cellular Transplants Inc. has raised $15.4 million in a private placement of convertible preferred stock that included Genentech Inc. among the lead investor group. The Providence, R.I., company is developing encapsulated cell therapeutic products. Its lead product, NeuroCrib for the treatment of Parkinson's disease, is expected to enter clinical trials next year. The company is using PC12, a dopamine-producing tumor cell line derived from rats, encapsulated in a polymer membrane. The dopamine
International Murex Technologies Corp. said Friday that it has raised $35 million in a private placement of 3.1 million common shares priced at $11.25 per share. The shares were offered to institutional investors in Europe and the Far East. The offering syndicate is a group led by Deacon Barclays de Zoete Wedd Ltd., which has an option to buy 890,000 additional shares to cover overallotments. Toronto, Canada-based Murex develops diagnostic tests for infectious diseases and products for the
Genetic Therapy Inc. has supplied retroviral vectors to a French trial of gene transfer. Doctors at Centre Leon are analyzing the ability of tumor infiltrating lymphocytes to find tumors and to see how long the cells persist in the body. The French strategy is similar to that performed at the National Institutes of Health in patients with metastatic melanoma. The Gaithersburg, Md., company provided the vectors for those experiments as well, and has supplied vectors in every human trial of gene
Chiron Corp. has named its senior management team that will direct key operations following last week's merger with Cetus Corp. Michael S. Ostrach, formerly Cetus' general counsel, will head Chiron Technologies, a new business unit. Dr. William G. Gerber, who had been head of Cetus' PCR group, will lead Chiron Diagnostics. Frank P. McCormick, Ph.D., former head of research and development at Cetus, will head therapeutics and biological research. Pablo D.T. Valenzuela, Ph.D., who had been head of
ImmuLogic Pharmaceutical Corp. said Tuesday that Marion Merrell Dow Inc. has purchased 1 million shares of ImmuLogic common stock for $18 per share as part of the companies' collaboration to develop ImmuLogic's allergy therapeutics. ImmuLogic (NASDAQ:IMUL) also received $1.16 million in consideration for a three-year option that the company granted MMD to acquire 250,000 shares of stock at an exercise price of $35 per share. The Cambridge, Mass., company's Allervax compounds consist of an