• FibroGen Inc.,of South San Francisco, said a pharmacologic stabilization of hypoxia-inducible factor (HIF) using its small-molecule inhibitors of HIF-prolyl hydroxylase prevented brain tissue damage and preserved motor function in a preclinical model of transient ischemic stroke. In the short-term study, the compound FG-4539 was orally administered in rodents at the time of reperfusion and resulted in significant reductions in total ischemic damage, core infarct size and amount of edema as assessed 48 hours post transient occlusion. Results from a long-term study, in which the compound was administered at the time of reperfusion, 24 hours later and then every other day for the duration of the study, showed that rodents exhibited accelerated recovery in grip strength at tactile adhesion tests compared to controls. Data was presented at the International Stroke Conference in San Francisco.

• Genesis Bioventures Inc., of Santa Monica, Calif., entered an investment in the form of a $500,000 convertible promissory note with Firebird Global Master Fund II Ltd. Under the terms, the company will acquire the rights to the Mammastatin therapeutic technology from the University of Michigan, and the company's subsidiary, Prion Developmental Laboratories, will begin production of the mad cow disease rapid assay test strips through its contract manufacturer company InBios.

• Inflazyme Pharmaceuticals Ltd., of Vancouver, British Columbia, is laying off 70 percent of its workforce as part of a corporate restructuring effort. Following the restructuring, the company said, it will have sufficient cash to carry it into the second half of the year, during which time it plans to review strategic alternatives. Last month, Inflazyme announced that top-line data from a Phase IIb trial of asthma drug IPL512,602 demonstrated no statistically significant differences between drug and placebo groups due to a high response rate in both groups. The clinical setback sent the stock down 52 percent, and it dipped another 19 percent on Friday due to the restructuring news, to close at 11 cents. Inflazyme is still expecting to report Phase IIa data with IPL455,903 in age-associated memory impairment this quarter.