Cel-Sci Acquisition Inc., of the British Virgin Islands, reiterated its offer to acquire Cel-Sci Corp., of Vienna, Va., for $7.75 per share, or $124 million, and the extension of the offer to Sept. 30. The company said it has opened preliminary discussions with Cel-Sci Corp.'s legal counsel. (See BioWorld Today, Aug. 20, 1999, p. 1.)
Cytoclonal Pharmaceutics Inc., of Dallas received a second payment from Bristol-Myers Squibb Co., of New York, as part of its license and research agreement for the production of paclitaxel by fermentation and genetic engineering. Paclitaxel, a chemotherapeutic agent for the treatment of breast, ovarian and lung cancer, is the active ingredient in Taxol.
GeneAsia Inc., of San Carlos, Calif., changed its name to Clingenix Inc. The new name reflects the company's core business as a pharmacogenomics services company with value-added genomics research and development capabilities, the company said.
Merck & Co. Inc., of Whitehouse Station, N.J., reported the early termination of the waiting period under the premerger notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act concerning its tender offer to purchase Sibia Neurosciences Inc., of La Jolla, Calif. Merck agreed to purchase Sibia for $87 million in cash. (See BioWorld Today, Aug. 3, 1999, p. 1.)
Pharmacopeia Inc., of Princeton, N.J., signed a collaboration to provide Lead Discovery Services to Roche Bioscience, of Palo Alto, Calif. Lead Discovery Services delivers active compounds ready for further preclinical and clinical development. Roche will use the technology to identify lead compounds. Pharmacopeia will receive a fee and may be entitled to future milestone payments.