* PPL Therapeutics Ltd., of Edinburgh, Scotland, which specializes in the production of human proteins in transgenic animals, was awarded orphan drug status by the FDA in the U.S. for its lead product, alpha-1-antitrypsin (AAT), in the treatment of cystic fibrosis. AAT is currently in Phase II trials in the U.K.
* Scotia Holding plc, of Stirling, Scotland, raised £50 million through a convertible bond issue. However, existing shareholders took up only 20 percent of the bonds before the March 18 deadline, leaving underwriters to pick up a hefty 80 percent. Dealing in the bonds was expected to commence this week. The price was fixed at £3.40, representing a premium of 20 percent over Scotia's closing share price Friday of £2.85. The placing was managed by Nomura International, Hoare Govett Corp. Finance Ltd. and Robert Fleming.
* Xenova Group plc, of Slough, U.K., said it received another £1 million equity investment from Warner-Lambert Co., of Morris Plains, N.J., following successful completion of the pilot phase of a drug discovery collaboration with Warner-Lambert's pharmaceutical division, Parke-Davis. Warner-Lambert, which made an initial £1 million equity investment in March 1997, now holds approximately 3 percent of Xenova's shares.