• Access Pharmaceuticals Inc., of Dallas, completed an offering of 7.5 percent convertible notes due March 31, 2007, and common stock warrants, resulting in gross proceeds of $5 million. The notes and warrants were sold in a private placement to a group of investors led by SCO Capital Partners LLC. Proceeds from this financing, combined with funds expected in October 2006, will support clinical development of Access’ lead product candidate, AP5346, in cancer. With this private placement, the company’s board also agreed to submit for stockholder approval a proposed 1-for-5 stock split.

• BCY LifeSciences Inc., of Toronto, said it completed discussions on its proposed combination with privately held Pipex Therapeutics Inc., of Ann Arbor, Mich. Upon completion of the merger, shareholders of Pipex and shareholders of BCY will hold shares of the combined business in a ratio of 15.625 to 1. The companies still must obtain all necessary regulatory and shareholder approvals.

• Bioxel Pharma Inc., of Ste-Foy, Quebec, completed a private placement of about 13.8 million shares priced at 34 cents per share, for gross proceeds of about $4.7 million. Proceeds will be used to expand the company’s commercial activities, increase the sales of paclitaxel and accelerate the development of its semi-synthetic taxanes.

• Corus Pharma Inc., of Seattle, withdrew its initial public offering filed in August 2004 with the aim of raising $100 million. In its SEC filing, the company said it might undertake one or more subsequent offerings. Corus’ lead drug, aztreonam lysinate for inhalation, is in Phase III trials in cystic fibrosis patients. (See BioWorld Today, Aug. 31, 2004.)

• CytoCore Inc., of Chicago, said it licensed a new cancer biomarker from University Hospitals Cleveland. The biomarker, labeled CG15, tracks changes in the apoptotic process.

• Genitope Corp., of Redwood City, Calif., said the underwriters of its follow-on public offering of 6.4 million shares exercised in full their overallotment option to purchase an additional 960,000 shares. All shares were sold at a price of $8.50 apiece. Net proceeds to the company totaled about $58.4 million, which will support trials of its personalized immunotherapy product, MyVax, which is in a pivotal cancer trial. (See BioWorld Today, Feb. 8, 2006.)

• Millenia Hope Inc., of Wilmington, Del., said its Canadian subsidiary, Millenia Hope Biopharma, purchased the intellectual property, scientific expertise and research facilities for the former Avance Pharma Inc., of Laval, Quebec, which focused on the commercialization of plant cell cultures. Millenia Hope intends to retain Avance’s research personnel, as well as all of its operating assets and facilities. Financial terms were not disclosed.

• Savient Pharmaceuticals Inc., of East Brunswick, N.J., said its board engaged Citigroup Corporate and Investment Banking to explore strategic alternatives for its wholly owned subsidiary, Rosemont Pharmaceuticals, including the potential spinout or sale of the business. Rosemont develops, manufactures and markets oral liquid medicines in the UK.

• YM BioSciences Inc., of Mississauga, Ontario, closed its previously announced registered direct offering of about 9.4 million shares at a price of $4.25 per share, resulting in gross proceeds of about $40 million. The funds will be used primarily to fund the company’s drug development activities. (See BioWorld Today, Feb. 15, 2006.)