• Genzyme Corp., of Cambridge, Mass., gained approval to market Elaprase (idursulfase) in Japan for the treatment of Hunter syndrome. Elaprase is an enzyme replacement therapy developed by Shire Human Genetic Therapies Inc., of Basingstoke, UK, and Genzyme is commercializing the product in Japan and other Asia Pacific countries under an agreement with Shire. Genzyme intends to launch Elaprase this quarter, following reimbursement approval. The drug was approved in the U.S. last year, and in Europe early this year.

• Memphis Bioworks Foundation has launched an accelerator seed fund seeking to encourage development of life science companies in that area. Initial funding for INNOVA is being provided by MemphisED, which is allocating the foundation $11.5 million over five years to establish an accelerator seed fund for new companies. The majority of the funding will be used to invest in small, technology-based and defensible service-based companies.

• Mylan Inc., of Pittsburgh, and its subsidiary Mylan Pharmaceuticals Inc. entered into an agreement to settle pending litigation with UCB Pharma Inc., of Smyrna, Ga., relating to levetiracetam tablets, 250 mg, 500 mg and 750 mg, the generic version of UCB's Keppra. Pursuant to the settlement, Mylan has the right to market the 250-mg, 500-mg and 750-mg strengths of levetiracetam tablets in the U.S. on Nov. 1, 2008, provided that UCB obtains pediatric exclusivity for Keppra and Mylan's abbreviated new drug application wins final approval from the FDA.

• Peregrine Pharmaceuticals Inc., of Tustin, Calif., presented data showing that a fusion protein combining interleukin-2 (IL-2) and 2aG4, an anti-phosphatidylserine (anti-PS) antibody similar to Peregrine's bavituximab, was effective in stimulating a strong protective immune response when added to a cancer vaccine. The combination was effective in protecting animals against a lethal challenge with a highly aggressive form of breast cancer. Results were disclosed at the International Conference on Vascular Targeted Therapies in Oncology in Mandelieu, France.

• Pharmasset Inc., of Princeton, N.J., will receive up to $30 million in a working capital loan agreement with Horizon Technology Finance LLC. Horizon will advance $10 million to Pharmasset in the near future, and can access another $10 million by March 31, 2008 and a third loan of $10 million by Nov. 30, 2008, provided certain conditions are met. Horizon has committed to $20 million of the loan facility, and Horizon intends to syndicate the remaining $10 million. For each $10 million loan, Pharmasset will pay interest only for the first 15 months followed by 30 equal monthly installments of principal and accrued interest. The interest rate for the initial loan will be 12 percent. In addition, Pharmasset issued to Horizon a seven-year warrant to purchase up to 149,377 shares of common stock at an exercise price of $12.05 per share, a volume-weighted average of recent closing prices. The warrant is immediately exercisable for 66,390 shares, and the remaining 82,987 shares become exercisable in varying increments upon the achievement of certain milestones related to Pharmasset's product development and future advances under the loan agreement. Pharmasset is developing Clevudine, for the treatment of chronic HBV infection, which is in Phase III clinical trials; R7128, an oral treatment for chronic HCV infection, is in a Phase 1 clinical trial in combination with Pegasys and Copegus through a collaboration with F. Hoffmann-La Roche Ltd., of Basel, Switzerland; and Racivir, being developed for the treatment of HIV in combination with other approved HIV drugs, which has completed a Phase II clinical trial.

• Pozen Inc., of Chapel Hill, N.C., said it plans to submit within 10 days a response to the approvable letter for Trexima received Aug. 1. That action comes after Pozen and partner GlaxoSmithKline, of London, met with the FDA to discuss the plan for responding to the approvable letter. The FDA letter focused on a Chinese hamster ovary study that showed genotoxicity with high doses of sumatriptan and naproxen sodium in combination but not with either drug alone. Pozen said the submission will constitute a full response and will include clarifying nonclinical information and, as required by the FDA, a routine clinical safety update. The FDA may take up to six months to review the submission, although Pozen will request an expedited review.

• SeraCare Life Sciences Inc., of Milford, Mass., committed to the build-out of a 60,000-square-foot research and manufacturing facility. The new campus expands upon space currently occupied by the company, and will house SeraCare's entire Massachusetts operations of 130 employees, including the corporate headquarters, currently located in West Bridgewater, Mass.

• Sunesis Pharmaceuticals Inc., of South San Francisco, granted employment-inducement stock options awards in accordance with Nasdaq Marketplace Rule 4350 to two new nonexecutive employees. The options cover an aggregate of 48,000 shares of common stock and are classified as nonqualified stock options with an exercise price equal to the fair market value of Sunesis' common stock at the close of the trading day on the grant date, and were approved by a committee of the board. The options have a 10-year term.