• Bioniche Life Sciences Inc., of Belleville, Ontario, received Canadian regulatory approval to sell Enhance for intra-articular injection in horses. The product is used to treat synovitis and/or osteoarthrosis, and the company plans to register the claims in other territories as well.

• Chiron Corp., of Emeryville, Calif., said it would receive about $350 million in gross proceeds after agreeing to the sale of 30-year convertible debentures to qualified institutional buyers. The debentures are convertible under certain circumstances into cash, and, if applicable, common stock. Terms include a coupon of 2.75 percent and an initial conversion price of $67. The notes may not be called for redemption by Chiron for six years, though their holders will have the option to require Chiron to purchase their debentures at par value after six, 10, 15, 20 and 25 years for cash and accrued and unpaid interest, if any. The initial purchasers also have a 13-day option to purchase additional debentures, which could give the company up to about $35 million more. Chiron intends to use the proceeds for general corporate purposes.

• CoTherix Inc., of South San Francisco, postponed its initial public offering of common stock because of adverse market conditions, it said. The company, which is developing products for cardiopulmonary and other chronic diseases, determined that it is not advisable to proceed with the proposed offering for which it registered three months ago. (See BioWorld Today, March 16, 2004.)

• DeCode Genetics Inc., of Reykjavik, Iceland, completed enrollment in its Phase IIa trial of DG031 for the prevention of heart attack. The trial is designed to examine the effect of various doses of the compound on biomarkers such as C-reactive protein and myeloperoxidase and on the production of leukotrienes. DG031 is designed to inhibit the activity of the FLAP, or 5-lipoxygenase activating protein, which modulates the activity of the leukotriene pathway. The 10-week trial is scheduled to conclude in late August, and the company expects to present results in the fall.

• Evotec OAI AG, of Hamburg, Germany, reported a successful general GMP audit and FDA pre-approval inspection of its cGMP manufacturing facilities to manufacture an undisclosed active pharmaceutical ingredient. Evotec is a drug discovery company that also provides chemical and pharmaceutical development resources.

• ImClone Systems Inc., of New York, said the FDA approved its chemistry, manufacturing and controls supplemental biologics license application to license its Erbitux (cetuximab) manufacturing facility. At maximum capacity, the site is expected to annually produce 250 kilograms of the product, which received FDA approval in colorectal cancer earlier this year. (See BioWorld Today, Feb. 13, 2004.)

• Karo Bio AB, of Huddinge, Sweden, said it would receive a milestone payment as part of its joint collaboration with Wyeth, of Madison, N.J. Wyeth advanced a lead compound into predevelopment for atherosclerosis from the 3-year-old collaboration, and the partners agreed to extend the agreement an additional year until Aug. 31, 2005, to discover new treatments for atherosclerosis targeting the liver X receptor.

• Microbix Biosystems Inc., of Toronto, entered an exclusive review and negotiation period with an international influenza vaccine producer for its virus yield-enhancement technology. Terms call for Microbix to receive monthly payments during the review and negotiation period, and $1 million upon confirmation that its technology will deliver a fourfold yield improvement to influenza vaccine production. Microbix could receive further milestone and royalty payments.

• Nanobac Life Sciences Inc., of Tampa, Fla., exercised its right to take over the marketing and sales activity of its nanobiotic regimen from Pegasus Worldwide Inc. The company also said that the International Journal of Pathophysiology would publish a manuscript titled "Calcification in Coronary Artery Disease can be reversed by EDTA - Tetracycline long-term chemotherapy." The company continues to develop a therapeutic to detect and treat nanobacterial infection.

• OxiGene Inc., of Waltham, Mass., said incorrect information about Combretastatin A4 Prodrug (CA4P) was posted on the website of the National Institutes of Health in Bethesda, Md. The site said that a study of CA4P in newly diagnosed, regionally advanced anaplastic thyroid cancer was suspended. But OxiGene, which said it is working to correct the misinformation, noted that enrollment in the study is under way at one center and in the process of opening at two others.

• Palatin Technologies Inc., of Cranbury, N.J., said data would be presented at this week's Society of Nuclear Medicine meeting in Philadelphia detailing NeutroSpec's potential in the diagnosis of occult infections and pedal osteomyelitis. The product also is a topic of a session to educate physicians about white blood cell labeling agents and discuss their applications in clinical practice.

• Targeted Genetics Corp., of Seattle, filed a shelf registration statement with the SEC for the sale of up to 16.3 million common shares. Upon being declared effective, the shelf will provide the company the flexibility to sell common stock in one or more offerings at its discretion.

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