• Acorda Therapeutics Inc., of Hawthorne, N.Y., said that an affiliate of the Paul Royalty Fund in New York purchased a portion of the future net revenues of Zanaflex Capsules and Zanaflex tablets for $15 million. Under the terms, Acorda also has the option to receive two equal payments of $5 million from the Paul Royalty Fund upon the achievement of 2005 and 2006 sales milestones. Zanaflex is approved for the management of spasticity related to conditions such as spinal cord injury and multiple sclerosis.

• Amarillo Biosciences Inc., of Amarillo, Texas, entered a distribution agreement with Bumimedic Sdn. Bhd., a Malaysian company that is part of the Antah HealthCare Group, to market Amarillo's low-dose interferon in Malaysia. Bumimedic will seek registration for the natural human IFN, and begin marketing the product after approval. Terms call for Amarillo to receive a series of payments upon execution of the agreement, regulatory approval and production.

• Arteriocyte Inc., of Cleveland, initiated a Phase I trial to evaluate adult-derived hemangioblasts in chronic ischemia. Ten patients who are not candidates for existing treatments, such as angioplasty, will receive the stem cells through a catheter into their coronary arteries. The trial will be funded by a $1.4 million Small Business Technology Transfer grant.

• Chlorogen Inc., of St. Louis, secured $6 million in venture funding, adding to an initial $5.8 million raised in 2003. The company plans to use the Series B investment to support development of its lead product candidates, which include protein-based therapies generated from its chloroplast transformation technology to treat gynecological cancers. Company investors included Burrill & Co., Harris & Harris Group, Prolog Ventures, Redmont Venture Partners and Finistere Partners LLC.

• CombinatoRx Inc., of Boston, and Bio One Capital of Singapore established CombinatoRx Singapore Pte. Ltd. CombinatoRx Singapore and Bio One said that David Lane has joined the CombinatoRx Singapore board. CombinatoRx Singapore will apply CombinatoRx's high-throughput screening technology to infectious diseases, with an initial focus on hepatitis C and B.

• DOR BioPharma Inc., of Miami, entered a common stock purchase agreement with Fusion Capital Fund II, of Chicago, an institutional investor, whereby Fusion Capital will buy up to $6 million of the company's common stock. The funds are expected to be used for general corporate purposes including the filing of its new drug application for orBec, a locally acting corticosteroid being developed for intestinal graft-vs.-host disease. Funding is expected to occur over a 15-month period.

• Enanta Pharmaceuticals Inc., of Watertown, Mass., initiated a Phase II trial for the treatment of community-acquired pneumonia in the U.S. and Canada for EDP-420, an investigational bridged bicyclic macrolide antibiotic for community-acquired respiratory tract infections. Enanta scientists discovered EDP-420, and the company retains development and commercialization rights to the program worldwide, excluding East Asia.

• EntreMed Inc., of Rockville, Md., commenced a Phase II study for its lead drug candidate, Panzem NCD (2-methoxyestradiol or 2ME2), in patients with recurring glioblastoma multiforme. The study will be conducted at the Brain Tumor Center at Duke University Medical Center in Durham, N.C. 2ME2 is an orally active small molecule that attacks tumor cells through multiple mechanisms of action and blocks the development of new blood vessels that feed tumor cells.

• First Horizon Pharmaceutical Corp., of Alpharetta, Ga., said a study demonstrated that there were not significant effects on the pharmacokinetics of Triglide when taken alone or in combination with simvastatin or atorvastatin. Triglide is a fibric acid derivative used as an adjunctive therapy to diet for hypercholesterolemia or mixed dyslipidemia and hypertrigliceridemia. Results of the study will be published in this month's issue of Clinical Therapeutics.

• Galapagos NV, of Mechelen, Belgium, and Cancer Research Technology, of London, entered a collaboration in cancer research. Galapagos' service division BioFocus will perform medicinal chemistry services on a series of CRT anticancer drug programs. In return, CRT will fund the work of four BioFocus scientists in 2006.

• Ganeden Biotech Inc., of Cleveland, reported study results showing that 57 percent of patients suffering irritable bowel syndrome noted a significant reduction in abdominal pain and bloating after taking Ganeden's IBS treatment, Digestive Advantage, for eight weeks. In a proof-of-concept study involving patients with Crohn's disease, those taking Digestive Advantage reported a 40 percent reduction in episodes of diarrhea. Digestive Advantage includes the company's patented strain of Lactobacillus, a lactic acid-producing bacterium known to help maintain proper gastrointestinal function.

• Generex Biotechnology Corp., of Toronto, received notification of the scheduling of a pre-new drug submission meeting for the company with the Biologics and Genetic Therapies Directorate of Health Canada on March 1, 2006. The topic will be Generex Oral-lyn, the company's buccal insulin spray.

• Gilead Sciences Inc., of Foster City, Calif., said 48-week data showed that a significantly greater percentage of treatment-na ve patients receiving a once-daily treatment regimen of Viread (tenofovir disoproxil fumarate), Emtriva (emtricitabine) and Sustiva (efavirenz) maintained HIV RNA less than 400 copies/mL, with fewer side effects, compared to those receiving a twice-daily regimen of Combivir (lamivudine/zidovudine by London-based GlaxoSmithKline plc) with Sustiva once daily in treatment-na ve HIV patients. Results were published in the New England Journal of Medicine. Gilead now is working with New York-based Bristol-Myers Squibb Co. to develop a triple-drug HIV regimen comprising Truvada, its Viread and Emtriva combination product, plus BMS' Sustiva.

• GTx Inc., of Memphis, Tenn., said an independent drug safety monitoring board recommended that the company continue clinical development as planned with its two pivotal Phase III trials of Acapodene (toremifene citrate) following an interim safety analysis. The company is evaluating Acapodene in an 80-mg dose for multiple side effects of androgen deprivation therapy in men with advanced prostate cancer, and in a 20-mg dose for the prevention of prostate cancer in high-risk men.

• Guava Technologies Inc., of Hayward, Calif., completed a $5.5 million secured debt financings from Hercules Technology Growth Capital Inc. Guava will use $4 million of the financing to retire previous debt. Guava also reported that it has agreed with Hercules to obtain a secured, one-year credit line of $4.5 million, subject to borrowing base calculations and other terms and conditions.

• Medarex Inc., of Princeton, N.J., said its partner, Geneva-based NovImmune SA, filed an investigational new drug application in the Netherlands for NI-0401, a fully human antibody designed to target the CD3 antigen for treating autoimmune disease. The product was developed using Medarex's UltiMAb technology, and Medarex expects to receive an undisclosed milestone payment with the IND filing. Medarex also stands to receive future milestones and potential royalty payments through the collaboration with NovImmune.

• MerLion Pharmaceuticals Pte. Ltd., of Singapore, signed a collaboration with Novartis Institute for Tropical Diseases in Singapore, a public-private partnership between Basel, Switzerland-based Novartis AG and the Singapore Economic Development Board. The collaboration will focus initially on identifying compounds for the treatment of dengue fever, a mosquito-borne viral infection, and includes options for the development and commercialization of discoveries in other therapeutic areas. As part of the agreement, NITD could license potential drug candidates from MerLion, and developing them as part of a portfolio of treatments for tropical diseases endemic in developing countries.

• Neurobiological Technologies Inc., of Emeryville, Calif., received a $5 million payment from Celtic Pharmaceutical Holdings, as part of a guaranteed $33 million agreement previously reported, regarding the sale of Xerecept. Xerecept currently is in Phase III trials for peritumoral brain edema. NTI received $20 million Nov. 28, and subsequent payments will be received in June and then January 2007.

• Omrix Biopharmaceuticals Inc., of Brussels, Belgium, a portfolio company of Hercules Technology Growth Capital Inc., filed for an $80.5 million initial public offering. UBS Investment Bank, CIBC World Markets, Leerink Swann & Co., and Oppenheimer & Co. will serve as underwriters. Omrix develops biosurgical and passive immunotherapy products using its protein purification technology.

• Ortec International Inc., of New York, said it is providing an update on the status of its ongoing 60-patient confirmatory trial, which is evaluating its lead product, OrCel, in the treatment of venous leg ulcers. The trial is being conducted at nine clinical centers, and about 40 patients have been enrolled and more than half have completed the treatment phase. Preliminary results show that OrCel continues to show effectiveness and faster healing in comparison to standard of care, the company said.

• QBI Life Sciences, of Madison, Wis., a division of Quintessence Biosciences Inc., formed a partnership with the Keck UWCCC Small Molecule Screening Center at the University of Wisconsin and the Drug Discovery and Development Technology Center at the University of Helsinki, Finland. With the collaboration, QBI secured a $175,000 grant from the National Institutes of Health under the NIH's Roadmap for Medical Research to develop a high-throughput molecular screening platform for membrane protein targets.

• Speedel Holding Ltd., of Basel, Switzerland, said its partner, Novartis AG, also of Basel, reported positive Phase III results of SPP100 (aliskiren, Rasilez) in hypertension, both as a monotherapy and in co-administration with amlodipine (calcium channel blocker) and ramipril (ACE inhibitor). Novartis also confirmed that it is on track for the first regulatory submission of SPP100 in the U.S. early this year and in the European Union during the fourth quarter. Speedel licensed the compound from Novartis, and successfully developed the product through Phase I and Phase II before Novartis exercised its license-back option in 2002.

• Viragen Inc., of Plantation, Fla., appointed Janney Montgomery Scott LLC as its financial adviser to act on the company's behalf in evaluating strategic alternatives, including obtaining additional financing and exploring potential merger and acquisition opportunities.

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