¿ Amgen Inc., of Thousand Oaks, Calif., and Praecis Pharmaceuticals Inc., of Cambridge, Mass., said data from two Phase III trials of the gonadotropin-releasing hormone antagonist abarelix demonstrated abarelix¿s ability to reduce serum prostate-specific antigen and testosterone levels compared to standard hormone therapy. Amgen presented the results at the meeting of the American Urological Association. Abarelix is under priority review by the FDA for treatment of prostate cancer.
¿ Genzyme Corp., of Cambridge, Mass., and Focal Inc., of Lexington, Mass., said the SEC declared the registration statement related to Genzyme¿s purchase of Focal effective. Genzyme, which owns 22 percent of Focal, plans to acquire the remainder of Focal stock with shares of Genzyme Biosurgery in a deal valued at about $10 million when it was disclosed. (See BioWorld Today, April 27, 2001.)
¿ Genzyme Transgenics Corp., of Framingham, Mass., adopted a shareholders rights plan. The plan is designed to ensure Genzyme Transgenic shareholders receive fair treatment in the event of an unsolicited offer or takeover attempt.
¿ Genzyme Molecular Oncology, of Framingham, Mass., acquired an exclusive license to patent rights covering the fusion of dendritic cells and tumor cells from BruCells SA/NV, of Brussels, Belgium. Genzyme will sponsor a two-year research program at BruCells related to the technology in connection with the license.
¿ ID Biomedical Corp., of Vancouver, British Columbia, said it will receive C$5.9 million (US$3.8 million) in federal funding from Technology Partnerships Canada. The funding will be directed through ID Biomedical¿s wholly owned subsidiary, Intellivax International, and will be used to develop the Proteosomes platform, for the delivery of intranasal sub-unit vaccines. ID Biomedical expects to receive about C$2 million per year for the next three years. ID Biomedical will pay TPC a percentage of the amounts it receives from any commercialized products developed under the program, although the payments have an undisclosed cap.
¿ Inhale Therapeutic Systems Inc., of San Carlos, Calif., adopted a stockholders rights plan. The plan calls for shareholders as of June 22 to receive rights to purchase shares of a new series of preferred stock, and is designed to allow Inhale¿s shareholders to realize the full value of their investment and to protect Inhale shareholders in the event of an unsolicited attempt to acquire Inhale, the company said.
¿ Matritech Inc., of Newton, Mass., sold 331,256 shares of its common stock (NASDAQ:NMPS) to Acqua Wellington North American Equities Fund Ltd., for $3.26 per share. The sale generated proceeds for the company of $1.08 million, and was a part of a previously arranged financing deal. The proceeds will be used to fund operating costs, capital expenditures and working capital needs, the company said.
¿ NexMed Inc., of Robbinsville, N.J., told attendees at the annual meeting of the American Urological Association in Anaheim, Calif., that results from a Phase II study of Alprox-TD cream for treatment of erectile dysfunction showed the cream produced between a 59 percent and a 83 percent improvement in erections, compared to a 26 percent improvement in erections in the placebo group. The 142-patient randomized, double-blind, placebo-controlled study found an 83 percent, 76 percent and 59 percent improvement in erection related to the high, medium and low doses, respectively, according to a global assessment questionnaire. Alprox-TD cream combines alprostadil, an off-patent vasodilator, and NexMed¿s proprietary NexACT transdermal delivery technology.
¿ Nycomed Amersham plc, of London, said it received FDA clearance to market EchoSeed (Iodine-125), a new generation of brachytherapy seed for treating prostate cancer. EchoSeed utilizes ultrasound imaging to provide physicians with information about seed placement during the seed implant procedure. Nycomed said the seed¿s grooved design in combination with ultrasound imaging allows the physician to view both the prostate gland and the seed during the implant procedure, facilitating optimal placement.
¿ Symyx Technologies Inc., of Santa Clara, Calif., said it established sales and marketing capabilities in the U.S., Europe and Japan. In Basel, Switzerland, Symyx established Symyx Technologies AG, a wholly owned subsidiary, to provide support for its European customers, and the company also opened a sales office in New Jersey. Symyx markets its Discovery Tools systems, as well as its proprietary materials, through collaborations with about 20 customers worldwide.