Antex Biologics Inc., of Gaithersburg, Md., said it will begin trading on the American Stock Exchange under the symbol "ANX." The vaccine company currently has three products in clinical development, as well as multiple strategic alliances.
BioQuest Inc., of Houston, said it closed on a $3 million financing from lead investor Merck Finck & Co. It is part of a private placement of up to $6 million in Series A 8 percent convertible preferred stock. It can be converted into common shares at $4 each, and each share comes with one half a warrant convertible at $5 each. BioQuest is merging with Biokeys Inc., of San Diego, and will go under the Biokeys name when it is completed. (See BioWorld Today, Feb. 25, 2000, p. 1.)
Biotech Holdings Inc., of Vancouver, BC, said its stock has been listed for trading on the Frankfurt Stock Exchange in Germany. The company is currently testing it's lead Type II diabetes product, DIAB II, in international trials.
Genencor International Inc., of Palo Alto, Calif., said underwriters of its initial public offering exercised in full their overallotment option on 1.05 million shares at $18 per share, adding net proceeds of $17.6 million. The IPO total now is 8.05 million shares with a gross of $144.9 million. Merrill Lynch & Co, Chase H&Q, Credit Suisse First Boston and Salomon Smith Barney underwrote the offering. The company develops genetically based products for the health care, agricultural and chemicals markets. (See BioWorld Today, July 31, 2000, p. 1.)
OEM Concepts Inc., of Toms River, N.J., said its mouse antibody-blocking reagent produced in goats blocked human anti-mouse activity interference in in vitro diagnostic immunoassays that use monoclonal antibodies. The company said its product outperforms the traditional solution to human anti-mouse activity interference, since it doesn't create large protein matrixes that affect the assay's sensitivity.
Pathogenesis Corp., of Seattle, said a study published in the American Journal of Respiratory and Critical Care Medicine showed promising results for the company's tobramycin solution for inhalation (TOBI) for bronchiectasis. TOBI was approved for distribution in the U.S. for cystic fibrosis patients in December 1997.