VimRx Pharmaceuticals Inc. of Stamford, Conn., (NASDAQ:VMRX) said Thursday that the National Institute of Allergy and Infectious Diseases is beginning Phase I clinical trials of VimRxyn hypericin in its AIDS clinical trial unit at New York University Medical Center. In vitro studies of hypericin, a plant derivative of St. John's wort, show it to be effective in preventing the spread of HIV from infected cells to uninfected cells. (c) 1997 American Health Consultants. All rights reserved.
Antisense molecules are showing promise in attacking inflammation in preclinical experiments, according to findings published by scientists at Isis Pharmaceuticals Inc. In the Sept. 25 issue of the Journal of Biological Chemistry, the company showed that oligonucleotide molecules, constructed to block the genetic message for the inflammation mediator ICAM-1, worked in tissue culture to prevent expression of ICAM-1 on the surface of cells. ICAM-1, an adhesion molecule on the surface of cells
Martek Corp. said it received four small business innovation research grants, totaling more than $1 million, in September from the National Institutes of Health for development of new algal-based products for nutrition and for rational drug design. The Columbia, Md., company cultures microalgae to produce biochemicals and substances for use in food, pharmaceuticals and aquaculture. It was awarded a $437,000 Phase II SBIR grant for research on carbon 13 glycerol. "This is a molecule that is
A Food and Drug Administration advisory committee has recommended that all blood establishments institute HIV-2 testing by June 1992. Two HIV-2 blood tests, both manufactured by Genetic Systems Corp., have been approved by the FDA. One test is solely for HIV-2. The FDA approved the company's combined HIV-1/HIV-2 test on Sept.26. The Blood Products advisory committee voted unanimously on Sept. 27 to recommend HIV-2 testing. There are about 2,500 blood establishments in the United States
Research using technology patented by Medizone International Inc. has shown that ozone can inactivate the AIDS virus but does not destroy the hemophilia treatment protein, Factor VIII, in blood products. The New York company is developing its ozone system to preserve important blood proteins while inactivating viruses that have lipid-based coats, such as HIV and the hepatitis and herpes viruses. Company researcher Joseph Latino told BioWorld that Medizone has filed an investigational new drug
Top management from private biotechnology companies are presenting their companies to about 500 venture capitalists and investors at the Mid-Atlantic Venture Fair 1991 in Baltimore. Highlights from Wednesday's presentations and interviews with company executives follow. Cellco Inc. The Kensington, Md., company has developed a therapeutic cell culture system using proprietary artificial capillary technology. The company's scientific founders, Richard Knazek and William Kidwell, developed the
If any proof was needed that the public offering window is still open, Cor Therapeutics Inc. provided it on Tuesday when it announced plans for an offering of about 2 million shares of stock. The proposed offering comes just three months after the South San Francisco, Calif., company raised $15 million in an initial public offering priced at $7.50. Now, with its stock up 117 percent for the quarter at $16.25, Cor (NASDAQ:CORR) could raise another $32 million or so. BioWorld's quarterly stock
Researchers at The Upjohn Co. are developing a new class of potential AIDS drugs that block replication of the virus, but are safer and chemically distinct from existing nucleoside inhibitors. Reporting this week in the Proceedings of the National Academy of Sciences, Upjohn scientists and collaborators at Mount Sinai medical center in Miami and the University of Miami, Fla., described the action of aryl piperazines in inhibiting reverse transcriptase, the enzyme that HIV, the AIDS virus, uses
NeoRx Corp. said Tuesday that it has signed a definitive agreement under which New York investor David Blech will invest $10 million in the Seattle-based company. Under the deal, originally announced for at least $7 million, NeoRx will issue to Blech 10 million shares of common stock, 5 million five-year warrants to purchase common stock at $1.75 per share, and 5 million five-year warrants to purchase common stock at $2.50 per share. If all the warrants are exercised, NeoRx would issue a total
Repligen Corp. announced Tuesday that it will acquire Amira Inc., a developer of small molecules, in a deal worth about $5.4 million. Under the agreement, Repligen will issue 320,000 shares of stock for Amira. Additional shares may be issued when clinical milestones are achieved. Repligen stock (NASDAQ:RGEN) closed at $16.75 on Tuesday, up 50 cents. Both companies are focused on virology, cancer and inflammation, with Cambridge, Mass.-based Repligen employing a biological approach and
U.S. Bioscience Inc. has filed a new drug application with the Food and Drug Administration for its Ethyol amifostine, a chemotherapeutic protector, the company announced on Tuesday. Ethyol is an injectable agent that has been shown to protect normal tissues from the toxic effects of chemotherapy and radiation therapy, according to U.S. Bioscience. "The critical attribute of Ethyol is its selective uptake into normal tissues, but relatively low uptake into cancerous tissue," according to the
Epitope Inc. has received Food and Drug Administration approval to export its OraSure oral specimen device for use in HIV-1 testing, the company said Tuesday. The Beaverton, Ore., company has received approval to export OraSure to Australia, Belgium, Canada, Hong Kong, Ireland, Italy and Thailand. The company expects to receive approvals for other countries in the near future, according to Adolph J. Ferro, president and chief executive officer. In July, the FDA forced Epitope (AMEX: EPT) to
Genentech Inc. on Monday announced a $20 million research agreement and equity investment in Xenova Ltd., the largest such agreement Genentech has reached with another biotech company. The five-year agreement, which extends joint work already being done by the two companies, includes $10 million in research support and a $10 million equity investment in privately held Xenova. Half of the equity investment was made on Monday and the other half will be made within the next two years against a
Athena Neurosciences Inc. said Monday that it has filed for an initial public offering of 3.5 million shares of common stock with an expected price range of $10 to $12 a share. If the offering is successfully completed, Athena will have 13.2 million shares outstanding. Athena has two in-licensed drugs in advanced development. An anti-convulsant to treat epilepsy, AHR 11748, is in Phase II trials. Athena on Sept. 27 filed an investigational new drug application to begin Phase III trials of
Escagenetics Corp. has received an $800,000 award from the National Cancer Institute to investigate the feasibility of scale-up and economic production of the cancer drug taxol by plant cell culture. The three-year award also includes funds for the production in bioreactors of derivatives of taxol. Escagenetics stock (AMEX:ESN) closed up $1 at $11 on Monday. Taxol, which is derived from the bark and needles of the Pacific yew tree, has been shown in clinical trials to be effective in treating
Greenwich Pharmaceuticals Inc. said Friday that its board has adopted a so-called stockholder rights plan designed to prevent hostile takeovers. The Fort Washington, Pa., company said the plan was not a response to any specific attempt to acquire control. Under the plan, each stockholder at the close of business on Oct. 7 will receive one right to purchase one one-hundredth of a share of a newly created Series A preferred stock with an exercise price of $60. The rights will be exercisable only
The Food and Drug Administration has given marketing approval to the drug foscarnet for the treatment of AIDS patients with cytomegalovirus (CMV) retinitis, which can lead to blindness in victims with impaired immune systems. Foscarnet on Sept. 27 became the second drug approved for use in AIDS patients with CMV retinitis and the eighth drug approved for treatment of an AIDS-related condition. Many AIDS patients cannot tolerate ganciclovir, which was approved in 1989 for treatment of CMV
Ecogen Inc. announced on Monday its acquisition of a majority interest in First Mississippi Corp. Inc., a biopesticide company, for about $900,000 in Ecogen stock and a small amount of cash. Ecogen transferred 61,000 shares of its stock to First Mississippi Corp. Inc.'s parent, First Mississippi Corp. (NYSE:FRM). Ecogen stock (NASDAQ:EECN), which closed on Monday at $13.50, up 75 cents, represented 95.5 percent of the deal, according to an Ecogen spokesman. The Langhorne, Pa., company acquired
Robert Nowinski is leaving Icos Corp., ending the reign of the company's stellar executive triumvirate and leaving George Rathmann with all the top executive positions. In a short announcement on Friday, the company said Nowinski was leaving Icos "to pursue other opportunities." Rathmann will take over Nowinski's positions as president and chief executive officer. Rathmann, who will remain chairman of Icos, held all these positions at Amgen Inc., which he also helped found. Nowinski was a
Neurogen Corp. stock jumped 73 percent on Friday after Robertson, Stephens & Co. analyst Mark Simon initiated coverage with a "strong buy" recommendation. "We would aggressively buy the stock up to $15 per share," he wrote. Stock of the Branford, Conn., developer of drugs to treat psychiatric and neurological disorders (NASDAQ:NRGN) closed at $12.13, up $5.13. Neurogen hopes in 1992 to begin clinical trials of its lead compound, NGD91-1, to treat anxiety. The company told BioWorld in August
VimRx Pharmaceuticals Inc. of Stamford, Conn., (NASDAQ:VMRX) said Thursday that the National Institute of Allergy and Infectious Diseases is beginning Phase I clinical trials of VimRxyn hypericin in its AIDS clinical trial unit at New York University Medical Center. In vitro studies of hypericin, a plant derivative of St. John's wort, show it to be effective in preventing the spread of HIV from infected cells to uninfected cells. (c) 1997 American Health Consultants. All rights reserved.