* Bioanalytical Systems Inc., of West Lafayette, Ind., has priced its initial public offering of 1.25 million shares at $8 per share. The IPO is being conducted by an underwriting group led by Roney & Co. Bioanalytical Systems is a contract research organization providing R&D services to biotech, medical device and pharmaceutical companies worldwide.

* Isis Pharmaceuticals has initiated Phase II clinical trials of ISIS 5132/CGP69846A, an antisense anticancer compound. Isis, of Carlsbad, Calif., said the compound is being developed as part of an antisense R&D collaboration with Novartis Pharma AG, of Basel, Switzerland. The company said the compound showed encouraging results in Phase I trials in patients with solid tumors. The first of the Phase II studies is being conducted by the Eastern Cooperative Oncology Group and the National Cancer Institute of Canada. The start of the Phase II trials triggered an undisclosed milestone payment by Novartis.

* Lidak Pharmaceuticals, of La Jolla, Calif., said it was extending the Dec. 31, 1997, expiration date of its Class D warrants to June 30, 1999. The warrants, issued in connection with a private placement financing, completed in February 1992, entitle holders to purchase one share of Lidak Class A common stock for each warrant at an exercise price of $1.50.

* MedImmune Inc., of Gaithersburg, Md., has submitted an investigational new drug application to the FDA requesting clearance to begin a Phase I clinical trial evaluating the safety of escalating doses of MEDI-507 in patients with psoriasis. MEDI-507 is an outgrowth of a strategic alliance between MedImmune and BioTransplant Inc., of Charlestown, Mass. MEDI-507 and its predecessor, BTI-322, have previously been evaluated in humans for several indications, including prevention and treatment of organ transplant rejection and treatment of graft-vs.-host disease.

* MedLogic Global Corp., of Colorado Springs, Colo., has acquired Gel Sciences, of Bedford, Mass., and its former subsidiary, GelMed. The purchase, a stock-for-stock transaction valued at $6 million, expands MedLogic's drug delivery platforms. Gel Sciences developed a hydrogel polymer technology from the work of Toyoichi Tanaka of the Massachusetts Institute of Technology. MedLogic also said that five principal venture capital investors involved with Gel Sciences have taken an equity investment position with MedLogic.

* Scios Inc., of Mountain View, Calif., and DuPont Merck Pharmaceutical Co., of Wilmington, Del., have agreed to establish a research collaboration for Alzheimer's disease research. The initial focus of the collaboration will involve use of high-throughput screening systems from Scios to identify DuPont Merck compounds useful in treatment of the disease.

* Sequus Pharmaceuticals Inc., of Menlo Park, Calif., said it has signed an exclusive agreement with CritiCare Laboratories Pvt. Ltd. for the marketing and distribution of Sequus's Amphocil systemic fungal infection-fighting drug in India, Bangladesh, Nepal and Sri Lanka.

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