¿ Cell Pathways Inc., of Horsham, Pa., was the subject of a class-action suit filed on behalf of all persons who bought common stock between Nov. 11, 1998 and Feb. 2, 1999. The lawsuit alleges the company issued false and misleading statements regarding the efficacy and near-term commercialization of its cancer drug Prevatac (exisulind), which failed in a Phase III trial. (See BioWorld Today, Feb. 3, 1999, p. 1.)
¿ PPL Therapeutics plc, of Edinburgh, Scotland, signed an agreement with an undisclosed U.S. biotechnology company to undertake a feasibility study for transgenic production of an antimicrobial peptide. The study will be carried out in Blacksburg, Va., and centers on production of a host defense peptide in the milk of transgenic rabbits.
¿ Variagenics Inc., of Cambridge, Mass., acquired exclusive rights to the methylenetetrahydrofolate reductase gene for diagnostic purposes from McGill University, in Montreal. Variations in the gene are associated with a common form of cardiovascular disease that may be prevented by early diagnosis of patients at risk, and appropriate treatment.