¿ Cambridge Antibody Technology Group plc, of Melbourn, UK, said it is proceeding with plans, announced in March, to join Nasdaq, but will not use the new listing to raise more money. CAT shares have fallen sharply in the past few weeks because existing investors feared their interest would be diluted by a financing. Last week the shares lost over a quarter of their value, closing at #27.15 on Nov. 24.
¿ German government officials are starting a DM1.6 billion (US$700 million) program on health research in Germany. One major part of the program will consist of projects to discover causes for diseases and overcome them instead of fighting the symptoms, Research Minister Edelgard Bulmahn said. About one-third of the budget for the whole program shall be used to such improvement of fighting diseases, an official said.
¿ GPC Biotech AG, of Martinsried, Germany, in-licensed a proteomics technology by CalTech, of Pasadena, Calif., and Garching Innovation, of Munich, Germany. The deal involves Detection Enhanced Ubiquitin Split Protein Sensor Technology (DEUS-PS). The new technology's application is not limited to yeast cell host systems as existing protein interaction technologies are, GPC spokeswoman Petra Bassen said. "DEUS-PS also performs in a broad variety of mammalian cell lines and we can apply it to a broader range of proteins, including membrane-bound ones." GPC will pay annual license fees.
¿ NicOx SA, of Sophia Antipolis, France, released positive preclinical data for its nitric oxide-releasing aspirin, NCX-4016, in preventing vein graft failure in animal models. Daily administration of NCX-4016 was found to prevent vein blockage in vein bypass grafts in pigs one month after implantation. Ordinary aspirin helps prevent early vein graft failure through its known antithrombotic action, but it has no effect on late vein graft failure. The animal study appears to confirm NicOx's hypothesis that NCX-4016 could be effective in treating both early and late vein graft failure.
¿ Provalis plc, of Deeside, Wales, said the U.S. National Institutes of Health will use its Glycosal diagnostic for monitoring long-term glucose levels in the most extensive diabetes care trial ever carried out. The eight-year trial will involve 10,000 patients who will have their glucose levels tested monthly using the Glycosal point-of-care kit. The trial, Action to Control Cardiovascular Risk in Diabetes (ACCORD), will be carried out by the National Heart, Lung, and Blood Institute and aims to reduce the rate of cardiovascular disease in patients with Type II diabetes.
¿ Vernalis Group plc, of Guildford, UK, said a lead candidate has been selected in its 5-HT2c obesity program, triggering the first milestone payment from Hoffmann-La Roche since the two agreed to a collaboration in December 1999.