• Biomira Inc., of Edmonton, Alberta, and Merck KGaA, of Darmstadt, Germany, reported preliminary Phase IIb results indicating that the median survival of Stage IIIb and Stage IV non-small-cell lung cancer patients treated with BLP25 liposomal vaccine was 4.4 months longer than those in the control arm. Although not statistically significant, the overall median survival seen in the randomized, open-label trial was 17.4 months for patients in the vaccine arm vs. 13 months for the control arm. The observed two-year survival for patients with locoregional Stage IIIb disease was 60 percent for the vaccine arm (median survival not yet reached) vs. 36.7 percent for the control arm (median survival of 13.3 months). Though not finalized, the companies said future plans likely would include a multinational Phase III registration trial.

• Discovery Laboratories Inc., of Doylestown, Pa., completed its previously reported $24.2 million public offering of 2.2 million common shares at $11 each. Bear, Stearns & Co. Inc. is acting as the offering's lead manager. (See BioWorld Today, March 31, 2004.)

• Genaissance Pharmaceuticals Inc., of New Haven, Conn., closed its merger with Lark Technologies Inc., of Houston, following approval by the two companies' stockholders. The terms of the agreements include the exchange of each outstanding share of Lark common stock for 1.81 shares of Genaissance common stock. Late last year, Genaissance said it was purchasing Lark in an all-stock transaction worth $19.9 million. (See BioWorld Today, Dec. 22, 2003.)

• Genta Inc., of Berkeley Heights, N.J., filed a shelf registration statement with the SEC to sell up to 15 million common shares in one or more offerings. Specific terms and prices will be determined at the time of any offering. Genta is developing products for cancer.

• GPC Biotech AG, of Martinsried, Germany, said it is planning an equity offering and a listing on the Nasdaq exchange. The company noted that the offering's timing and details have to be finalized and would depend on market conditions.

• ImaRx Therapeutics Inc., of Tucson, Ariz., raised $5 million after closing a private placement with First Montauk Securities Corp., of Red Bank, N.J., through the issuance of 2.5 million shares of its common stock. The proceeds will be used to advance NanoInvasive surgery, which combines imaging, nanoparticles and externally applied energy to perform therapeutic procedures, the company said. The money will be used to expand the first clinical trials of ImaRx's noninvasive treatment for cardiovascular conditions. The company also named John Moore chairman.

• Integra LifeSciences Holdings Corp., of Plainsboro, N.J., said findings from a study published in last month's European Journal of Neuroscience concluded that infusing a naturally occurring anti-scarring agent called decorin into the damaged spinal cords of rats suppresses key molecules that block nerve regeneration after spinal cord injury. The company supported the study through grants and the donation of the genetically engineered form of human decorin.

• Invitrogen Corp., of Carlsbad, Calif., acquired Protometrix Inc., of Branford, Conn., a company developing what it called the world's first microarrays representing the essence of the human proteome. The protein arrays are aimed at enhancing drug discovery and development by enabling researchers to reveal new disease pathways, identify drug targets and discover how drugs exert their intended effects and side effects. Invitrogen plans to globally launch Protometrix's initial product, the Yeast ProtoArray, in the middle of the year, and to introduce a series of human protein microarray products and services later this year.

• MycoLogics Inc., of Denver, received a Phase I Small Business Innovation Research grant from the Department of Health and Human Services to isolate a new class of compounds by disrupting beta(1,3)-glucan synthesis using a new assay. The company called the beta(1,3)-glucan polymer essential for fungal growth. It is found in fungi, not in humans, and is a validated FDA-approved clinical target for antifungals. The assay is scalable from low throughput to high throughput.

• Nektar Therapeutics, of San Carlos, Calif., called for the full redemption on April 21 of its outstanding 6 3/4 percent convertible subordinated debentures due October 2006. Issued in October 1999, the aggregate amount outstanding of the debentures is about $7.8 million. Prior to April 19, holders of those debentures may convert them into shares of Nektar stock at about $16 apiece, or about 62.5 shares of Nektar common stock per $1,000 principal amount of the debentures. Also, holders of those debentures may have their notes redeemed at a price of about $1,022 per $1,000 prinicipal amount of debentures, together with any interest accrued but not paid to the date of redemption, for a total payment of $1,024 per $1,000 principal amount.

• Novartis AG, of Basel, Switzerland, acknowledged an invitation by the board of Aventis SA, of Strasbourg, France, to enter negotiations regarding a potential transaction. Novartis added that it expects Aventis will clarify with the French government the positives of such a transaction for Aventis shareholders, as well as for employment, research and development. Aventis has been the subject of a takeover by Sanofi-Synthelabo SA, of Paris.

• Pharmos Corp., of Iselin, N.J., was awarded a $3.1 million grant by the Israeli government to help fund the company's development of dexanabinol. About 93 percent of the funding is designated for the development of dexanabinol as a treatment for traumatic brain injury, which is in Phase III testing with patient enrollment completed and results expected by the end of the year. The remaining portion will help fund the development of dexanabinol as a preventive agent against cognitive impairment in patients undergoing major heart surgery, in which patient enrollment in a Phase II study is under way.

• Point Therapeutics Inc., of Boston, said its common stock began trading on the Nasdaq SmallCap Market. The company is focused on developing small-molecule drugs for cancerous tumors and certain hematopoietic disorders. Its lead product candidate, PT-100, is designed to inhibit the growth of certain tumors, the company said.

• Proliant Biologicals, of Boone, Iowa, expanded its operations there, relocating management, sales, and research and development from Ames to the newly enhanced facility. The company already operates a 24,000-square-foot biologicals production facility on the site, and recently added office and laboratory space to accommodate the expansion. A unit of Proliant Inc., it manufactures animal-derived biochemicals, such as Bovine Serum Albumin, used in diagnostic, research, biopharmaceutical and veterinary applications.

• QLT Inc., of Vancouver, British Columbia, and Novartis Ophthalmics, a unit of Novartis AG, of Basel, Switzerland, said the Centers for Medicare and Medicaid Services will provide coverage for ocular photodynamic therapy (OPT) with Visudyne (verteporfin) to patients with age-related macular degeneration (AMD) who have occult and minimally classic lesions that are four disc areas or less in size and show evidence of recent disease progression. They said the decision expands access to OPT to include the majority of patients with all forms of wet AMD. Medicare already offers coverage for OPT in AMD patients with predominantly classic lesions. At the same time, QLT said a federal court dismissed a class-action securities complaint against the company, noting that the plaintiffs failed to state a valid claim for securities fraud.

• Regeneron Pharmaceuticals Inc., of Tarrytown, N.Y., said it would receive $42.75 million from Novartis Pharma AG, of Basel, Switzerland, to satisfy its obligation to fund costs of Interleukin-1 Trap after opting out of a joint development agreement. Novartis also forgave all its outstanding loans to Regeneron upon the latter's achievement of a development milestone. All rights to IL-1 Trap will revert to Regeneron, though both parties retain rights under the agreement to collaborate in the future on other IL-1 antagonists. Last month, Regeneron said Novartis would pull out of the agreement, which last fall resulted in a missed primary endpoint in an initial Phase II study of IL-1 Trap. Regeneron is planning to begin a Phase IIb study in rheumatoid arthritis in the second half of this year, noting that the prior trial might not have tested IL-1 Trap's maximally efficacious dose. Since the collaboration began about a year ago, Novartis has paid $102 million to Regeneron in up-front payments, equity investments and development expenses. (See BioWorld Today, March 31, 2003, and Oct. 8, 2003.)

• Tercica Inc., of South San Francisco, said the underwriters of its initial public offering fully exercised their overallotment option for 825,000 additional common shares. It added $7.43 million to the $49.5 million it raised last month through its IPO. The transaction had been postponed in November due to market conditions. The shares sold a bit lower than the $11 to $13 range set by Tercica in February, and considerably lower than the $14 to $16 range it proposed soon after registering for the offering late last summer. (See BioWorld Today, Sept. 15, 2003, and March 18, 2004.)

• Vaso Active Pharmaceutical Inc., of Danvers, Mass., said it would fully cooperate in addressing the concerns raised by the SEC in a release issued Thursday. Vaso Active said that because the matter is in its early stages, it would be inappropriate to provide a more detailed comment at this time. It was publicly reported on Thursday that the SEC halted trading on Vaso Active's stock.