Aronex Pharmaceuticals Inc., of The Woodlands, Texas, assumed ownership of an investigational new drug application for Aroplatin (formerly known as Plater) from the University of Texas M.D. Anderson Cancer Center in Houston. Aroplatin is a liposomal formulation of a novel platinum product designed to overcome the toxicity and drug resistance that currently limits the usefulness of platinum as a chemotherapeutic agent. In addition, Aroplatin received orphan drug designation for malignant mesothelioma.
AVI BioPharma Inc., of Portland, Ore., said it, along with the University of Kansas Medical Center, slowed the progression of a human model of polycystic kidney disease in research tests. Results showed that NeuGenes, AVI's proprietary antisense technology, significantly reduced the number and size of cysts and improved kidney function without adverse effects on body growth or blood formation. The results were presented at the American Society of Nephrology meeting in Miami Beach, Fla.
Cytoclonal Pharmaceutics Inc., of Dallas, said it has isolated a new class of Taxol genes. The new class of genes code for Cytochrome P450 Oxygenases, which are involved in the pathway fused for the synthesis of paclitaxel, the active ingredient in Taxol. The isolation, coupled with the discovery of previous Taxol genes proprietary to Cytoclonal, are part of the company's program with New York-based Bristol-Myers Squibb Co. to generate an optimized production system for Taxol using fermentation and genetic engineering.
DuPont Pharmaceuticals, of Wilmington, Del., completed its $95 million tender offer to acquire CombiChem Inc., of San Diego. CombiChem stockholders will receive $6.75 per share in cash. After the merger's completion, CombiChem will operate as part of DuPont Pharmaceuticals Research Laboratories. (See BioWorld Today, Oct. 7, 1999, p. 1.)
Gliatech Inc., of Cleveland, saw its stock (NASDAQ:GLIA) climb 21 percent to $12 Tuesday following release of third-quarter results showing sales increased 53 percent to a record $8.1 million for the quarter. Total revenues increased 34 percent to $8.3 million. In addition, the company said the FDA has scheduled a reinspection of its European Medical Contract Manufacturing B.V. facility in early December to verify compliance with a previously issued warning letter.
IGI Inc., of Buena, N.J., completed loan transactions with Fleet Capital Corp., of Glastonbury, Conn., and American Capital Strategies Ltd., of Bethesda, Md., to provide for term, credit and capital expenditure facilities of up to $29 million, of which about $24.5 million is currently available. The loans will allow IGI to repay in full all of its former outstanding bank debt of $18.6 million and to provide $4.5 million for working capital and capital expenditures.
NetGenics Inc., of Cleveland, and IBM, of Armonk, N.Y., will team together to deploy the DiscoveryLink solution, which is a combination of middleware and integration services. DiscoveryLink solution will create a "virtual database" by permitting data to be accessed by an application program as if they were in a single database, and in a single format, even though they remain highly heterogeneous in format and highly decentralized.
OrthoLogic Corp., of Tempe, Ariz., will start Phase I/II trials for Chrysalin, a synthetically manufactured peptide that has shown potential in animal studies to accelerate fracture healing. The trial will be a randomized double-blind study with 90 patients. The first indication will be an evaluation of fresh distal radius fractures with patients followed radiographically for six months.
Pentose Pharmaceuticals Inc., of Cambridge, Mass., said preclinical data showed the utility of Inactine compounds for viral inactivation of red blood cell concentrates and solvent detergent treated plasma. The studies, which include both in vitro lab studies and in vivo animal models, will provide the basis for Phase I studies scheduled to start this year. The results were released at the 52nd annual meeting of the American Association of Blood Banks in San Francisco.
Photogen Technologies Inc., of Knoxville, Tenn., said that Akorn Inc., of Buffalo Grove, Ill., will develop certain formulations of the photoactive compound PH-10, a light-sensitive drug that, when activated with X-rays, green light or ultra-fast-pulsed near-infrared light, has the potential to treat cancer and certain dermatological conditions, including lung, breast, and prostate cancer, Barrett's esophagus and psoriasis.
PPGx Inc., of Morrisville, N.C., named Joshua Baker president and CEO. Baker most recently served as executive vice president of global operations for PPD Development Inc., of Wilmington, N.C. PPGx was formed in February as a joint venture between Axys Pharmaceuticals Inc., of South San Francisco, and PPD Inc. of Wilmington, N.C.
Procept Inc., of Cambridge, Mass., and Heaven's Door Corp., a privately held provider of products and services for the funeral services industry, merged. Procept will issue new shares of its common stock in exchange for all Heaven's Door's equity, so that current Procept shareholders will own about 65 percent of the combined company. In addition, Procept said it will continue development of PRO 2000 gel and O6-Benzylguanine, a chemosensitizer designed to overcome resistance to a class of chemotherapeutic agents known as O6-alkylating agents. The company is seeking licensing partners and acquirers for all its biotechnology assets. (See BioWorld Today, Sept. 17, 1999, p. 1.)
Ribozyme Pharmaceuticals Inc., of Boulder, Colo., said its approach using a ribozyme to directly attack hepatitis C virus RNA was shown to inhibit viral replication in cell culture experiments. Data demonstrated a highly specific and dramatic inhibition of replication of a chimeric HCV-poliovirus by an anti-HCV ribozyme, the company said. The studies indicate the ribozyme therapeutic has potent antiviral activity and its effects are dependent on a ribozyme mechanism of action. The company anticipates filing an investigational new drug application with its partner, Eli Lilly & Co., of Indianapolis, by year's end.
Sangamo BioSciences Inc., of Point Richmond, Calif., signed a collaborative research agreement with Merck KgaA, of Darmstadt, Germany, to provide specific Universal GeneTools to Merck for use in its internal research and validation programs. Financial terms were not disclosed. The Universal GeneTools technology platform enables the rational design and rapid generation of highly specific zinc finger DNA binding protein transcription factors that can selectively recognize and regulate any target gene or DNA sequence.
Targeted Genetics Corp., of Seattle, presented Phase I/II data suggesting its cystic fibrosis therapy, tgAAV-CF, in a sinusitis model of cystic fibrosis lung disease, decreased levels of IL-8, a key mediator of inflammation. In addition, the product was safe and well tolerated. Reduction of IL-8 in the lung may reduce the inflammation that leads to scarring and tissue damage in patients. The study involved 23 patients with cystic fibrosis who were given tgAAV-CF in one sinus and placebo in the other. The data were presented at a conference sponsored by Nature Biotechnology in Washington.
Virco, of Mechelen, Germany, has acquired several cancer diagnosis patents from Johns Hopkins University and Oncor Inc., of Gaithersburg, Md. Virco will open its own research laboratory on the Johns Hopkins campus this month. Virco paid about $2.7 million.