Cubist Pharmaceuticals Inc., of Cambridge, Mass., said Bristol-Myers Squibb Co., of New York, extended their June 1996 collaboration for developing anti-infective drugs. Bristol-Myers will continue funding Cubist research, and retain a license to the findings. Cubist could receive milestones and royalties. (See BioWorld Today, June 27, 1996, p. 1; and Dec. 10, 1996, p. 1.)
Ribozyme Pharmaceuticals Inc., of Boulder, Colo., completed a secondary offering of 1.8 million shares for gross proceeds of about $6.3 million. Hambrecht & Quist LLC, of San Francisco, served as placement agent. Proceeds will be used to fund development of the anti-angiogenic compound Angiozyme.