Aastrom Biosciences Inc., of Ann Arbor, Mich., said positive results from several clinical trials of the AastromReplicell System will be presented at the annual scientific meeting of the American Society of Hematology in New Orleans. The data were compiled from studies evaluating the system and the companys two lead therapy kits for the production of bone marrow cells and umbilical cord blood cells, both for use in stem cell therapy to treat cancer and other blood diseases. The results also were published in the scientific journal Blood. The companys stock (NASDAQ:ASTM) gained 53 cents Tuesday, or 106 percent, to close at $1.06.
Alexion Pharmaceuticals Inc., of New Haven, Conn., said underwriters for its recent public offering exercised their option on 415,000 shares, bringing total proceeds to $47.8 million. US Bancorp Piper Jaffray Inc. was lead underwriter and Hambrecht & Quist LLC was co-managing underwriter. (See BioWorld Today, Oct. 21, 1999, p. 1; and Nov. 22, 1999, p. 1.)
Aurora Biosciences Corp., of San Diego, said it entered two new collaborations with Merck & Co. Inc., of Whitehouse Station, N.J., in the area of functional genomics. Under each agreement, Aurora will use aspects of its Genome Screen technology to investigate cell signaling pathways and gene function related to certain Merck therapeutic programs. Aurora will receive an up-front payment, and potentially additional research support fees, as well as revenues if drugs are commercialized as a result of the collaboration.
Axys Pharmaceuticals Inc., of South San Francisco, said it reached a research milestone in its collaboration with Rhone-Poulenc Rorer, of Collegeville, Pa., based on the successful testing of a selective cathepsin S inhibitor compound in an animal efficacy model of asthma. Rhone-Poulenc now intends to identify a candidate for clinical studies to begin in 2000.
Cytogen Corp., of Princeton, N.J., said it received notification from the state of New Jersey that it was approved for $3.2 million in tax benefits, which may be sold for not less than 75 cents on the dollar. The company has arranged for the sale of the credits in a deal in which it will net $2.5 million. Also, the state approved $5.6 million in additional benefits in future years.
Ilex Oncology Inc., of San Antonio, Texas, completed its public offering, including the underwriters overallotment option on 600,000 shares. In all the company sold 4.2 million shares at $14 per share, netting $55.3 million. CIBC World Markets Corp. was lead manager. Prudential Vector Healthcare and US Bancorp Piper Jaffray were co-managers. (See BioWorld Today, Nov. 24, 1999, p. 1.)
ImClone Systems Inc., of New York, said the underwriters of the its recent public offering have fully exercised their overallotment option by purchasing 412,500 shares of common stock at $32 per share, raising the company an additional $12.4 million. Total net proceeds raised by ImClone from the offering amounted to $94.3 million. (See BioWorld Today, Nov. 22, 1999, p. 1.)
La Jolla Pharmaceutical Co., of San Diego, said an additional analysis of a Phase II/III trial of its experimental lupus drug, LJP 394, showed that a blood test correctly predicted which patients would respond to drug treatment. More than 80 percent of lupus patients evaluated to date tested positive in the blood assay. In this group, there was a reduction in renal flares and in the use of high-dose corticosteroids and cyclophosphamide. The company intends to meet with the FDA to review the data and the design of a potential Phase III trial. The companys stock (NASDAQ:LJPC) gained 90.6 cents Tuesday, or 94 percent, to close at $1.875.
Ligand Pharmaceuticals Inc., of San Diego, said it submitted a marketing authorization application seeking European approval of Targretin capsules for treating patients with cutaneous T-cell lymphoma. The company filed for U.S. approval in June. (See BioWorld Today, June 25, 1999, p. 1.)
Millennium Pharmaceuticals Inc. and LeukoSite Inc., both of Cambridge, Mass., said the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger of the companies. LeukoSite shareholders will vote on the merger at a special meeting scheduled Dec. 22. (See BioWorld Today, Oct. 15, 1999, p. 1.)
NeoTherapeutics Inc., of Irvine, Calif., said interim data from a Phase IIb trial of Neotrofin produced positive responses on a standardized measure of memory in patients with Alzheimers disease. Improvement increased as the treatment continued for 90 days. The analysis was done on about half the 400 patients being treated at centers in Canada, Australia and South Africa. Another 100 patients are being enrolled, and results are expected near the end of the second quarter 2000.
Neurocrine Biosciences Inc., of San Diego, said a Phase II trial of NBI-34060 demonstrated a highly statistically significant and clinically relevant effect in inducing sleep when compared with placebo. The data confirm the product is safe and effective in treating insomnia, the company said. The study enrolled 228 transient insomnia subjects. Those receiving NBI-34060 reached latency to persistent sleep (LPS), the primary endpoint, in 16 minutes, as opposed to those receiving placebo, who reached LPS in 34 minutes.
SangStat Medical Corp., of Fremont, Calif., opened an online pharmacy dedicated to organ transplantation as an extension of The Transplant Pharmacy, its program with information and resources for transplantation.
Trimeris Inc., of Durham, N.C., and Hoffmann-La Roche Inc., of Nutley, N.J., said dosing has started in the first study using fusion inhibitors to treat HIV-positive children. The study is assessing safety and pharmacokinetics of T-20.