* Immunomedics Inc., of Morris Plains, N.J., will receive up to $30 million in equity financing over a three-year period from Cripple Creek Securities LLC, an affiliate of New York-based Palladin Group LP. The financing allows Immunomedics "to draw down the amounts we need over the next 36 months with a structure that we believe provides for an orderly market distribution," said David Goldenberg, chairman and CEO.
* Microcide Pharmaceuticals Inc., of Mountain View, Calif., received a one-year extension of a research collaboration with Daiichi Pharmaceutical Co. Ltd., of Tokyo. The companies have been working together for more than two years on discovery and development of antibiotics and antibiotic potentiators. Under the terms of their 1995 agreement, Daiichi pays Microcide research support of up to $3.5 million per year, with milestones of up to $13 million plus royalties on products.
* Pharmacopeia Inc., of Princeton, N.J., received a $3 million milestone payment from its drug discovery partner, Daiichi Pharmaceutical Co. Ltd., of Osaka, Japan. In the alliance, Pharmacopeia uses its combinatorial chemistry and high-throughput screening technology to develop drug candidates for two molecular targets. The company said the milestone payment was related to discovery of a small molecule that affects an undisclosed protein-protein interaction.
* SuperGen Inc., of San Ramon, Calif., said the FDA approved its supplemental new drug application to manufacture Nipent (pentostatin) commercially, clearing the way for the company to aggressively market the drug for hairy cell leukemia. SuperGen acquired rights to the anticancer compound from Warner-Lambert Co., of Morris Plains, N.J.