¿ Abbott Laboratories Inc., of Abbott Park, Ill., said it acquired control of Vysis Inc., of Downers Grove, Ill. Abbott¿s cash tender offer to purchase all of the outstanding common stock of Vysis expired as scheduled at midnight Thursday. The tender offer has not been extended. A total of 10.1 million shares of Vysis common stock were validly tendered and not withdrawn prior to the expiration of the offer. Abbott accepted all of these shares as payment. (See BioWorld Today, Oct. 25, 2001.)
¿ Bioenvision Inc., of New York and London, appointed SCO Financial Group LLC as financial adviser, and SCO Capital Partners LLC, of New York, extended a $1 million secured credit line to the company. Additionally, Bioenvision said it is engaged in negotiations to acquire Pathagon Inc., a privately held company focused on the development of novel anti-infective products and technologies. Pathagon¿s Oligon technology is an advanced biomaterial that creates an electrochemical reaction between dissimilar metals, silver and platinum. The resulting reaction has demonstrated effectiveness against bacteria, fungi and antibiotic-resistant microorganisms.
¿ Biopure Corp., of Cambridge, Mass., signed an amended letter of intent with Sumter Realty Group LLC that increases the real estate developer¿s financing commitment for Biopure¿s proposed pharmaceutical manufacturing facility in Sumter, S.C. Construction of the facility will cost between $110 million and $120 million, up from preliminary estimates of $85 million.
¿ CV Technologies Inc., of Calgary, Alberta, announced positive results from its Phase II trials of CVT-E002, a drug candidate for the prevention of acute viral respiratory illness. Results are based on 198 patients enrolled. One percent of the CVT-E002-treated group compared with 7 percent of the placebo-treated group got laboratory-confirmed influenza illness, which requires both the presence of respiratory virus as well as symptoms of acute respiratory illness, and 1 percent of the CVT-E002 group compared with 9 percent of the placebo-treated group got laboratory-confirmed influenza or respiratory syncytial virus illness. No significant differences were noted in adverse event rates between the groups.
¿ PhotoCure ASA, of Oslo, Norway, said its European marketing applications for Metvix PDT to treat actinic keratosis and basal cell carcinoma were approved across Europe. Three countries ¿ Portugal, France and the Netherlands ¿ required additional clinical information. Metvix PDT combines the local application of a cream (Metvix), which is selectively absorbed into the cancer cells, followed by activation of the drug through illumination with a red light source.
¿ GenSci Regeneration Sciences Inc., of Irvine, Calif., and its subsidiary, GenSci OrthoBiologics Inc., said a jury in a federal district court in Los Angeles returned a verdict in the liability phase of a patent infringement suit between both GenSci companies and Osteotech Inc., of Eatontown, N.J. The jury found that both the parent company and its subsidiary are liable for infringement of two patents held by Osteotech. The case will now continue to the damages phase, in which the jury will determine the extent to which the parent and its subsidiary are liable to Osteotech for potential damages as a result of the infringement on patents related to GenSci¿s sales of DynaGraft gel and putty products. Osteotech¿s stock (NASDAQ:OSTE) gained $1.81, or 48 percent, to close at $5.59. GenSci (TSE:GNF) fell C18.5 cents, or 42 percent, to close at C25 cents.
¿ ILEX Oncology Inc., of San Antonio, completed patient enrollment for its Phase III pivotal clinical trial to determine the efficacy of eflornithine (DFMO) in superficial bladder cancer. The goal of enrolling 450 patients was reached about a month earlier than the target date of Dec. 31. DFMO is an irreversible inhibitor of an important oncogene, ornithine decarboxylase. A preliminary interim analysis conducted in July 2001 by an independent safety monitoring board showed no statistical difference between DFMO and placebo in terms of safety. (See BioWorld Today, Feb. 24, 1999.)
¿ Micrologix Biotech Inc., of Vancouver, British Columbia, announced positive preliminary results from its Phase II trial of MBI 594AN, a topical drug candidate for acne. The randomized, double-blind study enrolled 75 acne patients and entailed twice-daily dosing over six weeks with one of two formulations of MBI 594AN (2.5 percent and 5 percent) or the product¿s alcohol-based vehicle alone. The data showed 32 percent total acne reduction, 39 percent reduction in inflammatory acne, 25 percent reduction in non-inflammatory acne and 41 percent improvement in physician¿s assessment.
¿ NZ Corp., of Phoenix, and Lipid Sciences Inc., of Pleasanton, Calif., said the merger of the companies closed. The combined company will be called Lipid Sciences Inc. It began trading on Nasdaq Friday under the symbol LIPD, and Thursday ceased trading under the NZ symbol on the American Stock Exchange. Lipid Sciences is a medical technology company with technology that has shown the ability to reverse atherosclerosis in animals.