AltaRex Corp., of Waltham, Mass., issued 5.687 million shares of common stock upon the exercise of special warrants that were sold to investors on Feb. 29. The net proceeds of $3.66 million will go toward the continued funding of OvaRex MAb, which is in late-stage development for the treatment of ovarian cancer.
ArQule Inc., of Woburn, Mass., withdrew its registration statement to sell 2.875 million shares of stock due to market conditions.
Aurora Biosciences Corp., of San Diego, signed a non-exclusive license agreement with Wyeth-Ayerst Research, of Radnor, Pa., for Aurora's proprietary green fluorescent protein (GFP) mutant technology for specified genomics technologies and other applications. Wyeth-Ayerst was granted rights to use the GFP mutant technology for certain internal purposes, including use in transgenic organisms. Financial terms were not disclosed.
Biosyntech Inc., of Laval, Quebec, raised $6.3 million by selling 1.8 million shares at $3.50 per unit. Each unit consists of one share of common stock and one warrant entitling the holder to acquire one share of common stock for $4.50 on or before March 31.
Eukarion Inc., of Bedford, Mass., received a Phase II Small Business Innovation Research Grant from the National Institute of General Medical Sciences for the development and testing of Eukarion's synthetic catalytic scavengers in stroke. The funding will help Eukarion to advance one of its compounds toward clinical development.
Genelabs Technologies Inc., of Redwood City, Calif., said that its proprietary technology, and the characterization of a novel class of small molecules synthesized by the company, have inhibitory activity against several RNA viruses.
Gensia Sicor Pharmaceuticals Inc., a wholly owned subsidiary of Sicor Inc., of Irvine, Calif., received tentative approval of an abbreviated new drug application for Enalaprilat injection, a drug that is indicated for the treatment of hypertension.
Ixion Biotechnology Inc., of Alachua, Fla., sold out its Internet-registered offering of 150,000 shares of common stock. The company said it is the first direct offering of a biotechnology firm's stock over the Internet. The company sold 150,000 shares to 90 purchasers at a price of $4 each, raising $600,000 before expenses.
LJL BioSystems Inc., of Sunnyvale, Calif., received a Phase I Small Business Innovation Research grant from the National Institutes of Health. The grant is for research into the application of LJL's High Efficiency Fluorescence Polarization technology for measuring G protein-coupled receptor signaling.
Neurobiological Technologies Inc., of Richmond, Calif., said the stock price of its recent private financing was $5.30 per share. The company raised $6.36 million.
Oxis International Inc., of Portland, Ore., completed a private equity financing, raising gross proceeds of $6.25 million, including the $4.8 million it announced last month. The offering was placed primarily with European investors. The financing involved units consisting of one share of common stock and warrants to purchase two shares of common stock. The units in the second and final closing were priced at $3.94, the stock's closing price on March 30.
StemCells California Inc., of Sunnyvale, Calif., said it has produced mature liver cells from rigorously purified blood stem cells in mice. The work was reported at the annual meeting of the Society for Experimental Biology in San Diego.