LONDON - Antisoma plc has taken ownership of Cancer Therapeutics Ltd. (CTL), the 50-50 joint venture it set up with the Imperial Cancer Research Fund (ICRF) to speed development of drugs discovered by the charity. The deal gives London-based Antisoma full control of a novel treatment for ovarian cancer, Theragyn, which is currently in pivotal Phase III trials in the U.S. and Europe. Under terms of the agreement, Antisoma has bought ICRF's half-share of CTL from the charity's commercial arm

DUBLIN, Ireland - Modex Therapeutiques SA, which is using encapsulated cell technology to develop cell and gene therapies for chronic systemic diseases, has raised US$8 million in its second financing round. The company's new shareholders are Atlas Venture and Banexi Ventures, both of Paris, and the Novartis Venture Fund, of Basel, Switzerland. Its earlier investors, Alta Partners, of San Francisco, Alta Berkeley, based in London and Geneva, and Geneva, Switzerland-based Lombard Odier

JERUSALEM - Drug delivery by slow-releasing, biologically compatible nanoparticles loaded with the novel tyrosine kinase blockers, tyrphostins, may be able to prevent coronary restenosis following angioplasty, bypass operations and heart transplantation. Restenosis is the accelerated form of atherosclerosis that starts in response to the injury to the blood vessel wall caused by these procedures. An international Israeli-German research team headed by Alexander Levitzki, of Hebrew University

LONDON - The network of molecules known to be involved in the control of appetite and obesity now has a new member, with the discovery in Denmark of a peptide that makes rats stop eating. Researchers hope, if they can identify the peptide's receptor in the brain, it may be possible to find a drug that will block the receptor and thus control obesity. The peptide is known as CART, which stands for cocaine- and amphetamine-regulated transcript. Peter Kristensen, head of histology at Novo Nordisk

TORONTO - GlycoDesign Inc., focused on enzyme inhibitors involved in synthesizing carbohydrates, raised C$13.65 million (US$9.5 million) from nine venture capital organizations. The investor confidence shown in Toronto-based GlycoDesign, which has raised a total of C$35 million in venture financing since its inception in 1994, revolves around the fact that its founding scientists were among the first in the world to identify the cell-surface carbohydrate structures that make possible the

LONDON - International Biotechnology Trust plc (IBT), of London, reported a profit of £5.4 million for the six months ending February 1998. But it said lack of confidence in the U.K. market and setbacks at Biocompatibles International plc and Core Group plc - two of three U.K. companies in which IBT has investments - were having a direct effect on the fund. "Whilst this is unwelcome, it is not unexpected in the biotechnology industry, and illustrates why a portfolio approach provides investors

BRUSSELS, Belgium - The European Parliament's Committee on Agriculture and Rural Development has backed a report that is broadly favorable to the promotion of conservation, collection and utilization of genetic resources in agriculture. The report, prepared by German Green Euro-MP Friedrich-Wilhelm Graefe zu Baringdorf, was adopted by the committee by unanimous vote. Technically, the report concerns new measures for implementing a 1994 EU regulation and proposes a standing inventory of genetic

PARIS - Cerep SA has announced better-than-expected financial results for 1997, reporting a net profit of FFr900,000 (US$150,000). When it announced its initial public offering (IPO) on France's Nouveau Marché last November, the Paris-based drug discovery company forecast a loss of FFr1.4 million for 1997 as a result of a sharp increase in research and development expenditure. In effect, R&D spending more than tripled to FFr11.2 million last year from FFr2.9 million in 1996. Revenues increased

LONDON - Chiroscience Group plc last week said it had submitted its first new drug application (NDA) to the FDA. The company also disclosed financial results for the year ended Feb. 28 showing losses up - to £23.5 million from £19.3 million - on revenues of £26.2 million, more than double the £11.5 million in 1997. Expenditures on research and development increased from £18.8 million to £36.4 million. During the year, Cambridge-based Chiroscience entered partnerships with Schering-Plough

PARIS - Genset has announced the discovery of a new gene associated with prostate cancer and has identified several other genes that also could be linked with the disease. The discoveries were made as part of the Paris-based genomics company's research and development alliance with the French pharmaceutical company Synthélabo. On the strength of these successes, the two companies have decided to extend their collaboration for another year. Genset's agreement with Synthélabo was signed in May

LONDON - Lipids specialist Scotia Holdings plc last week revealed a sleek new look, with development programs cut from 20-plus to six, and several make-or-break clinical trials in place. At a strategic review meeting, the company said its goal was to "maximize commercial value from its intellectual property portfolio," taking discoveries to proof of concept and then licensing them on. The changes have been engineered by Robert Dow, who became CEO in January, replacing David Horrobin, who

LONDON - The search is on for a drug to boost production of a natural protein that may compensate for the loss of the muscle protein dystrophin in muscular dystrophy. Researchers in the U.K. have found that the protein utrophin, which is very similar to dystrophin in structure, can correct the muscle abnormalities present in mice deficient in both utrophin and dystrophin. The finding raises hope that if a compound can be found which can up-regulate natural production of utrophin, it may be

DUBLIN, Ireland - Elan Corp. (NYSE:ELN) has clocked up its second acquisition in two weeks. The Dublin-based company is merging with Neurex Corp. (NASDAQ:NXCO), of Menlo Park, Calif., a late-stage biopharmaceutical company that develops drugs for pain management and acute care. The tax-free, all-stock transaction is valued at US$700 million, based on Elan's share price of US$62.38 at the close of trading on April 28. This deal follows Elan's US$150 million purchase of Carnrick Laboratories, of

PARIS - Transgène SA has reported a net loss of FFr142.5 million (US$23 million) for the first quarter of 1998, compared with a loss of FFr18.2 million in the corresponding three months of 1997. The near eightfold increase in the Strasbourg-based gene therapy company's loss was attributable to its payment of FFr155.4 million to Human Genome Sciences Inc. (HGS), of Rockville, Md., under terms of the collaboration agreement signed last February. That agreement provided for Transgène to make an

PARIS - Rhône-Poulenc Agro, the agrobiology subsidiary of chemical giant Rhône-Poulenc, has created a joint research venture in conjunction with Biogemma, a plant biotechnology firm that is jointly owned by the seed companies Limagrain and Pau-Euralis and financial institutions Unigrains and Sofiprotéol. The joint venture, called Rhobio, will conduct research into techniques for making plants resistant to disease, which will entail building up gene libraries and developing genetic engineering

LONDON - The cause of systemic lupus erythematosus (SLE) has been a mystery since the autoimmune disease first was described in 1845. Now, new research - including the generation of a mouse model for SLE - has confirmed that a defect in the complement pathway may play a role in the development of this condition. SLE affects more than 1 million women in the U.S. and is nine times more common in women than in men. It causes a characteristic "butterfly" rash over the cheeks and bridge of the nose

LONDON - Dolly has a little lamb. The famous sheep, first to be cloned from an adult cell by nuclear transfer, gave birth April 13 to Bonnie. The Roslin Institute, in Edinburgh, Scotland, said Dolly was mated normally at the end of last year with a Welsh mountain ram, and both mother and daughter are doing well after a normal delivery. "We are delighted," said Grahame Bulfield, director of the Roslin Institute. "Despite Dolly's unusual origins, the birth of her lamb confirms that she is able

SYDNEY - Virax Holdings Ltd. was awarded a A$700,000 Australian government grant to start a Phase I/IIa trial of a new HIV vaccine. The technology, discovered in Australia in 1987, involves three genes, including two that code for proteins in a part of the virus's outer shell that does not vary. Melbourne-based Virax first must make the drug required for the trial in accordance with the strict requirements of the Therapeutic Drugs Administration. It then must gain various approvals and

LONDON - Proteus International, of Macclesfield, Cheshire, has launched a rights issue to raise £7.6 million to finance the development of a therapeutic vaccine for hypertension. Up to 18.5 million new shares, priced at £0.45 will be issued on a one-for-three basis. This compares with a closing price of £0.58 on April 22, when the issue was announced. The rights issue is underwritten by Panmure Gordon & Co. Ltd., of London. "Existing cash resources are sufficient, at current spending levels