¿ Biogen Inc., of Cambridge, Mass., purchased a 60-acre site and an option to an additional 36 acres in Hillerod, Denmark, for a European manufacturing facility. Biogen said it will invest $350 million in the project and create 400 new jobs in the area. Ground breaking is scheduled for early 2002.
¿ Centaur Pharmaceuticals Inc., of Sunnyvale, Calif., said it obtained proof of concept in its dementia trials of CPI-1189. The company said CPI-1189 is the first oral drug that potentially inhibits neuroinflammation, thus protecting brain cells and improving cognitive function. Centaur plans to proceed to a Phase IIb study of the drug candidate in Alzheimer¿s disease.
¿ ComGenex Inc., of Budapest, Hungary, said Bayer AG, of Leverkusen, Germany, elected to extend the companies¿ combinatorial supply agreement as a result of successful operations during the initial two years. The extension will strive to increase the number of potentially bioactive compound libraries co-designed and delivered to Bayer.
¿ Crucell N.V., of Leiden, the Netherlands, entered a discovery agreement with the University Medical Center Utrect in the Netherlands to discover targets, therapeutic human antibodies and vaccines for treatment of Type II diabetes mellitus. UMC Utrect has discovered that the aggregation of human islet amyloid polypeptide is associated with the destruction of insulin-producing cells and the onset of Type II diabetes.
¿ D-Pharm Ltd., of Rehovot, Israel, said it led the establishment of Pharma Logica, a biopharmaceutical research consortium. The consortium will include other Israeli biotechnology companies including Compugen Ltd., of Tel Aviv.
¿ Gene Logic Inc., of Gaithersburg, Md., launched a new GeneExpress Suite product, the GeneExpress Cardiovascular DataSuite. The Cardiovascular DataSuite is comprised of normal and diseased human cardiac and vascular tissues from a cross-section of individuals, races, medication regimens, lifestyles and disease stages.
¿ Genetronics Biomedical Ltd., of San Diego, appointed Grant Denison president and CEO. Denison is the co-founder and former chairman and CEO of BioMarin Pharmaceutical Inc., of Novato, Calif.
¿ GlycoDesign Inc., of Toronto, and Leo Pharmaceutical Products Ltd., of Ballerup, Denmark, disclosed their selection of anti-thrombotic drug candidates for clinical development. The candidates contain V21, an intermediate-molecular-weight heparin and low-molecular-weight dermatan sulphate. The program seeks to develop therapeutics for venous thrombosis.
¿ Human Genome Sciences Inc., of Rockville, Md., said it completed its acquisition of San Diego-based Invitrogen Corp.¿s research and manufacturing facility in Rockville through a lease financing agreement provided through the Maryland Economic Development Corp. and financed by Allfirst Bank. The 18-acre site is comprised of three buildings totaling 240,000 square feet of research and development laboratories and offices.
¿ Hybrigenics SA, of Paris, and Lynx Therapeutics Inc., of Hayward, Calif., announced their discovery of a novel target candidate for treatment of obesity. The companies have jointly filed for a patent on the discovery, and elected to extend the research agreement they started in May 2000.
¿ Immtech International Inc., of Vernon Hills, Ill., said Johnson Matthey, of London, acquired an equity position in Immtech through its acquisition of Pharm Eco Laboratories Inc., a major Immtech stockholder with a 423,750-share position, 7 percent of Immtech¿s outstanding shares. Pharma Eco paid $1 million and returned 850,000 warrants to Immtech to settle outstanding disputes.
¿ Integrative Proteomics Inc., of Toronto, said it completed the first-pass interrogation of proteins responsible for intracellular functions in staphylococcus. IPI analyzed more than 1,700 genes and manufactured almost 1,000 different bacterial proteins in sufficient quantity to interrogate their function and structure for the project.
¿ Oxis International Inc., of Portland, Ore., said in its first-quarter earnings statement it lacks sufficient capital for ongoing operations, calling its current cash reserves ¿almost completely exhausted.¿ Oxis claimed cash and cash equivalents of $1.04 million and a net loss of $1.15 million for the period. Its stock (NASDAQ:OXIS) fell 31 percent Tuesday, or 13 cents, to close at 29 cents.
¿ Paradigm Genetics Inc., of Research Triangle Park, N.C., said Bayer AG, of Leverkusen, Germany, accepted additional screening assays from Paradigm for Bayer¿s ultra-high-throughput facility. The delivery triggers undisclosed milestone payments to Paradigm. The new assays were generated against novel herbicide targets identified by Paradigm¿s GeneFunction Factory.
¿ Photogen Technologies Inc., of New Hope, Pa., entered an agreement with its founding scientists to ¿lock up¿ ownership of their stake in the company. The agreement calls for the company founders to not sell shares owned or controlled by them for three years without the consent of the company. Photogen¿s chair agreed to purchase 2 million shares from the founders in exchange for relief of his commitment to lend the company up to $1 million.
¿ Unigene Laboratories Inc., of Fairfield, N.J., said The New England Journal of Medicine reported in its May 10, 2001, issue that a modified version of human parathyroid hormone reduced the incidence of osteoporosis-related spinal fractures by at least 65 percent. Unigene recently announced successful preclinical trial results for an oral formulation of a parathyroid hormone-related product.
¿ Vasogen Inc., of Toronto, said research from studies of its immune modulation therapy in treatment of autoimmune disease indicated the therapy inhibited inflammation in a preclinical model of immune-mediated inflammatory skin disease. Therapy showed a significant reduction in inflammatory swelling compared to controls (p<0.05), and a twofold downregulation of the pro-inflammatory cytokine interferon-gamma (p<0.05).