Biovail Corp. International, of Toronto, acquired under license the exclusive rights to market Ampligen in Canada from Hemispherx Biopharma Inc., of Philadelphia, in return for an initial undertaking by Biovail to purchase about $2 million in Hemispherx common shares from treasury. Crystaal, a division of Biovail, plans to submit a new drug submission seeking marketing approval in Canada for Ampligen to treat chronic fatigue immune deficiency syndrome.
Gene Logic Inc., of Gaithersburg, Md., said 24 drug discovery and development programs are under way and in the hands of major pharmaceutical companies based on Gene Logic's genomic information. Each program is based on genes discovered by Gene Logic to be associated with the onset and development of diseases, such as heart failure, kidney disease, osteoporosis, prostatic hypertrophy, infertility, psychiatric disorders and other major illnesses.
Immunomedics Inc., of Morris Plains, N.J., said a University of Nebraska research team found that the anti-CD22 antibody labeled with iodine-131 had an objective response rate of 33 percent in a Phase I study of non-Hodgkin's lymphoma patients. Of the responders, 71 percent had a complete remission. The research is published in an article on the company's radiolabeled LymphoCide product in the January issue of Leukemia and Lymphoma.
Procept Inc., of Cambridge, Mass., and parent company HeavenlyDoor.com Inc. initiated a second National Cancer Institute Phase II trial of 0-6-Benzylguanine chemosensitizing agent in combination with the chemotherapeutic drug carmustine to treat cerebral anaplastic gliomas.
Protein Design Labs Inc., of Fremont, Calif., completed its private placement of $125 million principal amount of 5.5 percent convertible subordinated notes due 2007. The offering is expected to close Feb. 15. The company also granted to the initial purchasers an option to purchase up to an additional $25 million in principal amount of notes, which are convertible into common stock at an initial conversion price of about $151 per share. (See BioWorld Today, Feb. 2, 2000, p. 7.)
QLT PhotoTherapeutics Inc., of Vancouver, British Columbia, and CIBA Vision Corp., of Atlanta, said the FDA issued an approvable letter for Visudyne (verteporfin for injection) therapy to treat the wet form of age-related macular degeneration (AMD). AMD is the leading cause of adult blindness. The wet form is characterized by the formation of abnormal leaky blood vessels growing across the central part of the retina, called the macula. The Visudyne therapy is a non-invasive, two-step process that targets rapidly growing abnormal blood vessels through the intravenous infusion of verteporfin, a light-sensitizing agent that binds excess lipoproteins produced by the abnormal vessels. Shining a red laser light in the patient's eyes then activates the drug. In November, an FDA advisory panel announced its support for approval of the therapy. (See BioWorld Today, Nov. 18, 1999, p. 1.)
Synsorb Biotech Inc., of Calgary, Alberta, signed an agreement with BCY Ventures Inc., of Toronto, in which Synsorb agreed to assign to BCY its license of certain technologies relating to the treatment of lung complications associated with cystic fibrosis. BCY will issue up to 1.6 million common shares to Synsorb, the first 800,000 at closing of the transaction and another 800,000 following successful completion of milestones.
Trega Biosciences Inc., of San Diego, is implementing initiatives to better focus on the development of products from its iDiscovery technologies. The company, therefore, decided it will no longer support in-house drug discovery that is not funded by a collaborator. It currently is carrying out a collaborative program in the area of diabetes, obesity and syndrome X, all funded by Novartis AG, of Basel, Switzerland.
UroGen Corp., of San Diego, said the FDA cleared the company's investigational new drug application for a Phase I trial of its Factor VIII gene therapy product to treat hemophilia A. The company expects to begin the clinical trial later this year.