¿ Acorda Therapeutics Inc., of New York, received a Phase I small business technology transfer grant from the National Institutes of Health. The grant will fund collaborative research on nerve regeneration between Acorda and the laboratory of Martin Grumet at the NYU Medical Center.
¿ Cadus Pharmaceutical Corp. of Tarrytown, N.Y., said it will have its common stock delisted from NASDAQ because it no longer meets the exchange's requirements.
¿ Corixa Corp., of Seattle, said its shareholders approved its merger with Ribi ImmunoChem Research Inc., of Hamilton, Mont. Ribi's shareholders also approved the merger last week. The acquisition should be completed by mid-October. (See BioWorld Today, June 11, 1999, p. 1.)
¿ Guilford Pharmaceuticals Inc., of Baltimore, closed on the sale of 3.36 million shares of common stock at a purchase price per share of $13.50. The private placement raises $45 million for the company to enhance its manufacturing capability and advance product candidates into clinical development. The company now has 23 million outstanding shares of stock. (See BioWorld Today, Sept. 14, 1999, p. 1.)
¿ Progen Industries Ltd., of Melbourne, Australia, started its Phase I trial for PI-88, its anticancer drug, at the Royal Melbourne Hospital under the umbrella of the Centre for Developmental Cancer Therapeutics. Over the next 12 months, up to 40 cancer patients who no longer respond to standard therapies will be involved. PI-88 has an anti-angiogenic action that reduces the size of the primary tumor by inhibiting the growth of new blood vessels, the company said.
¿ Repligen Corp., of Needham, Mass., has entered into a clinical trial agreement with the National Cancer Institute (NCI) for a Phase II trial of CTLA4-Ig, a compound that can selectively block immune responses. Repligen and the NCI will evaluate the compound's ability to prevent the development of graft-vs.-host disease in patients undergoing bone marrow transplants by an unmatched donor. The NCI will submit an investigational new drug application and sponsor the trial, which should begin in early 2000.
¿ Link Technology Inc., of Research Triangle Park, N.C., closed a $750,000 round of financing, including a $500,000 investment by Access Investment Partners of Westport, Conn. The financing will help fund operations through the end of the third quarter of 2000. The company is developing a purinoceptor-based technology platform.
¿ Millennium Pharmaceuticals Inc., of Cambridge, Mass., along with the Whitehead Institute for Biomedical Research, has discovered a novel protein involved in fat absorption. FATP4 plays a role in transporting fatty acid molecules from the intestine into the body and may provide new approaches to treating obesity. Data on the protein discovery was published in the Sept. 23, 1999, issue of Molecular Cell.