• Cel-Sci Corp., of Vienna, Va., entered an agreement with an unnamed investor to raise $1 million through the sale of 2.5 million shares of its common stock priced at 40 cents per share. The investor also will receive five-year warrants to purchase 750,000 shares at an exercise price of 56 cents per share. Cel-Sci develops immune system-based treatments for cancer and infectious diseases.

• Chaperone Technologies Inc., of Scranton, Pa., is receiving $1 million, secured in a defense appropriation bill by U.S. Rep. Paul Kanjorski, of Pennsylvania, to conduct research for the U.S. Army in conjunction with Lackawanna College in Scranton and the University of Scranton. The target is to create a means to destroy drug-resistant bacteria in a way that is well tolerated and without toxicity.

• EPIX Pharmaceuticals Inc., of Cambridge, Mass., said its partner, Berlin-based Schering AG, exercised its option for a gadofluorine derivative discovered as part of the companies’ joint research program. Schering will take over the development of the product candidate, which is intended for the diagnosis of atherosclerosis and other vascular diseases, and EPIX would be entitled to royalties upon product approval

• Helix BioPharma Corp., of Aurora, Ontario, received a $125,000 milestone payment from Lumera Corp., of Bothell, Wash., under an agreement signed about a year ago. That collaboration focuses on developing specialized microarrays using Helix’s Heterodimer Protein technology and Lumera’s nanosurface modification chemistry.

• Immtech International Inc., of Vernon Hills, Ill., received an exclusive license from Tulane University to develop, manufacture and commercialize a class of aminoquinoline drugs for the treatment, prevention and diagnosis of infectious diseases. Among those compounds is AQ13, which is targeted as a candidate for treatment of and prophylaxis for malaria.

• MacroChem Corp., of Lexington, Mass., announced a 1-for-6 reverse split of the company’s common stock. As a result, stockholders will receive one share for every six shares they own, and a cash payment will be made in lieu of fractional shares. Post-split trading of MacroChem shares on the Over-The-Counter Bulletin Board began Friday, under the symbol "MACM."

• Neose Technologies Inc., of Horsham, Pa., received a research milestone payment from Bagsvaerd, Denmark-based Novo Nordisk A/S under its recently expanded license agreement. Novo is using Neose’s GlycoPEGylation technology to develop a next-generation version of one of its marketed therapeutic proteins.

• PharmaStem Therapeutics Inc., of Wayne, Pa., entered an agreement for Burnaby, British Columbia-based Lifebank Corp. to license its patent portfolio to market its umbilical cord stem cell processing and storage services in the U.S.

• Vaccinex Inc., of Rochester, N.Y., entered a research collaboration with Berlin-based Schering AG to identify disease targets, and potentially develop therapeutic antibodies. Vaccinex will receive a technology access fee and research funding, and also will be eligible for milestones and royalties. Following the initial research phase, Vaccinex could receive certain options to co-develop a selected cancer product. Specific financial terms were not disclosed.

• XOMA Ltd., of Berkeley, Calif., said $60 million in aggregate principal amount of its 6.5 percent convertible senior notes due 2012, or 100 percent of the total outstanding, were tendered and not withdrawn in its previously announced exchange offer. As a result, the company will issue $60 million in aggregate principal amount of 6.5 percent convertible SNAPssm due 2012. XOMA also reported the placement of $12 million of additional convertible SNAPssm to the public for cash. The company focuses on developing therapeutic antibodies to treat cancer and immune diseases. Shares of XOMA (NASDAQ:XOMA) closed at $1.61 Friday, down 3 cents.

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