Aastrom Biosciences Inc., of Ann Arbor, Mich., was granted an additional 180-day grace period, or until Feb. 24, to regain compliance with the listing requirements of the Nasdaq SmallCap Market. During the extension period, the company said it would continue to trade under the symbol ASTM. Aastrom develops cell-based products for stem cell tissue repair and the treatment of cancer and infectious disease.
Genmab A/S, of Copenhagen, Denmark, said the last patient in the initial stage of the HuMax-CD4 Phase II trial for patients with active rheumatoid arthritis completed treatment in the study. Genmab expects to release efficacy data from the 155 patients by the end of October. The trial was launched in combination with methotrexate in December 2000.
Gradipore Inc., of New York, entered an exclusive licensing agreement with Cangene Corp., of Toronto, in which Cangene will evaluate Gradipore's platform separation technology, Gradiflow, as an enhancement to its hyperimmune manufacturing process. The agreement specifies up-front and milestone payments by Cangene. If the first phase is successful, the companies might enter further agreements, they said.
Immune Network Ltd., of Vancouver, British Columbia, said that in order to satisfy interim working capital needs, the company closed a unit placement of an aggregate 898,307 units for proceeds of $89,831. Each unit includes one common share and one warrant. Each warrant is exercisable for a period of two years at a price of 15 cents. No commissions were paid in relation to the private placement.
Medicure Inc., of Winnipeg, Manitoba, said it continues to explore alliance opportunities for the ongoing development and commercialization of MC-1 and other products derived from the drug discovery program. Discussions include representatives from Sao Paulo, Brazil-based LIBBS Farmaceutica Ltd. Medicure President and CEO Albert Friesen said it is one of several discussions Medicure is having with pharmaceutical companies in Europe, Asia and elsewhere in North America.