Advanced Polymer Systems Inc., of Redwood City, Calif., sold its cosmeceutical product lines and certain technology rights for topical pharmaceuticals to partner R.P. Scherer Corp., a subsidiary of Cardinal Health Inc., of Dublin, Ohio. Advanced Polymer will receive $25 million up front and an additional $26.5 million over the next three years, depending on the gross profit on sales. Advanced Polymer will now focus on pharmaceutical products arising from its delivery systems.
Genelabs Technologies Inc., of Redwood City, Calif., said statistically significant results of a second Phase III trial showed that GL701 (prasterone, dehydroepiandrosterone) can stabilize or improve disease symptoms for patients with systemic lupus erythematosus. The data are being presented at the Clinical Trial Symposium at ENDO 2000, the 82nd annual meeting of the Endocrine Society in Toronto. (See BioWorld Today, Nov. 23, 1999, p. 1.)
GenSci Regeneration Sciences Inc., of Irvine, Calif., has satisfied the conditions to permit net proceeds of the company's recent special warrant financing to be released from escrow. Seventy-five percent of the $10 million private placement was held in escrow.
Human Genome Sciences Inc., of Rockville, Md., will start human trials of B-lymphocyte stimulator, or BlyS, in patients with common variable immunodeficiency (CVID). CVID is a primary immunodeficiency disorder that is characterized by increased susceptibility to infection. Patients require lifelong treatment with antibodies to protect against recurrent infection. BlyS is a protein that stimulates the production of antibodies.
Immunex Corp., of Seattle, said that patients with rheumatoid arthritis who responded to Enbrel (etanercept) experienced sustained reduction of joint pain and swelling for as long as 43 months of treatment, according to results from an ongoing, long-term, open-label study. About two-thirds of the patients responded to Enbrel. Interim results were presented at the 15th annual meeting of the European League Against Rheumatism.
Senesco Technologies Inc., of Princeton, N.J., closed on a $2.2 million private placement of 1.471 million shares led by Fahnestock & Co. Inc., of New York. Senesco is an agrobiotechnology company focused on improving crop quality and productivity through the control of senescence and programmed cell death.
Cytoclonal Pharmaceutics Inc., of Dallas, said it created an inhibitor of the BCL cancer gene, which is involved in lymphoma, skin cancer and small-cell lung cancer. The cancer gene inhibitor was created by Cytoclonal's OASIS technology. OASIS is a collection of inhibitors of various human genes, including BCL, c-RAF and PKC-alpha, which are cancer genes associated with lymphoma and cancers of the breast, ovary, skin, and lung. The inhibitors are optimized antisense reagents. The company's stock (NASDAQ:CYPH) gained $3.50, or 47 percent, Friday to close at $11.