* Advanced Polymer Systems Inc., of Redwood City, Calif., acquiredthe Polytrap technology of Dow Corning Corp. for use in AdvancedPolymer's polymeric transport systems. The agreement includedpayment of Advanced Polymer stock, but details were not disclosed.Dow Corning is a joint venture between Corning Inc., of Corning,N.Y., and the Dow Chemical Corp., of Midland, Mich.

* Cephalon Inc., of West Chester, Pa., has been sued in U.S. DistrictCourt in Philadelphia by a shareholder alleging the company and itsexecutives made misleading statements about the efficacy ofCephalon's Myotrophin in the treatment of amyotrophic lateralsclerosis, or Lou Gehrig's disease. The shareholder filing the lawsuitis represented by the Ardmore, Pa., law firm of Greenfield & RifkinLLP.

* Ecogen Inc., of Langhorne, Pa., conducted a 1-for-5 reverse stocksplit, reducing its outstanding shares from 34.8 million to about 7million. The company said the move enabled it to complete the saleof $10 million in common stock to Monsanto Co., of St. Louis, aspart of a collaboration to develop Ecogen's Bacillus thuringiensis(Bt) technology for biopesticides. Following the split, Monsantobought an additional $2.7 million worth of stock. The equitypurchases are part of Ecogen's $25 million alliance with Monsantofor its Bt research.

* HemaSure Inc., of Marlborough, Mass., entered into acollaboration with the American Red Cross' Pacific NorthwestRegional Blood Services in Portland, Ore., for evaluation ofHemaSure's cell filtration technology in removal of cancer cells fromperipheral stem cell concentrates.

* NeoRx Corp., of Seattle, sold 369,000 common and convertiblepreferred stock worth $4.7 million to institutional investors in aprivate transaction. The company will use the funds for clinicaldevelopment of two drug candidates _ Avicidin for cancer andBiostent for prevention of restenosis following angioplasty.

* Neurobiological Technologies Inc., of Richmond, Calif., raised$8.4 million through a public offering of 2.4 million shares at $3.50per share. Neurobiological has 6.3 million shares outstanding.Underwriters Van Kasper & Co., of San Francisco, and GerardKaluer Mattison & Co. LLC, of New York, have an option topurchase 360,000 additional shares to cover overallotments.

* Osteotech Inc., of Eatontown, N.J., adopted a shareholder rightsplan against hostile takeovers. The company said the move was not aresponse to any specific takeover attempt. Osteotech also said itintroduced a new product, Grafton demineralized bone matrix flex,for use in bone transplants.

* ProCyte Corp., of Kirkland, Wash., regained Asian rights to itspeptide-copper compound, Tricomin solution, for baldness fromKaken Pharmaceutical Co. Ltd., of Chiba, Japan. ProCyte began aPhase II study of Tricomin in the U.S. in October 1995. Thecompany now owns worldwide rights to the drug.

* Scios Nova Inc., of Mountain View, Calif., said basic fibroblastgrowth factor (bFGF) reduced brain injury in experimentally inducedstroke in animal models. The company began a Phase I/II trial fortreatment of stroke in January 1996. Scios Nova said the growthfactor is designed to prevent brain damage from stroke by protectingneurons from the effects of oxygen and glucose deprivation.

* Triangle Pharmaceuticals Inc., of Durham, N.C., signed a two-yearagreement to develop a nucleoside reverse transcriptase inhibitorcreated by Mitsubishi Chemical Corp., of Tokyo, for HIV. Termswere not disclosed. Mitsubishi will help fund development throughearly clinical evaluation. Triangle has the option of acquiringworldwide rights to the drug outside the Far East.

* SunPharm Corp., of Jacksonville, Fla., said maximum tolerateddose levels of its drug, diethylnorspermine (DENSPM), have beenestablished in the company's Phase I trials for cancer. The companysaid the studies should be complete in the second quarter of 1996.The drug, a synthetic polyamine analog, is designed to inhibit cancercell proliferation. The drug is being developed in collaboration withWarner-Lambert Co., of Morris Plains, N.J.

* Xoma Corp., of Berkeley, Calif., began a fourth clinical trial ofNeuprex for gram-negative bacterial infections. Neuprex is derivedfrom the human bactericidal permeability-increasing protein (BPI).The company said the BPI protein is involved in killing bacteria,neutralizing endotoxins and inhibiting angiogenesis. In the lateststudy, Neuprex is being evaluated as a treatment for intra-abdominalinfections. Three other trials are testing the drug for hemorrhagictrauma, meningococcemia and partial hepatectomy.

(c) 1997 American Health Consultants. All rights reserved.