* Elan Corp., of Athlone, Ireland, said its subsidiary, Athena Neurosciences Inc., of South San Francisco, and Eli Lilly and Co., of Indianapolis, have extended their collaboration on development of drugs for Alzheimer's disease. Lilly and Athena began working on the project in 1988. The program has been extended through Aug. 13, 1998. Financial terms were not disclosed.
* Novartis AG, of Basel, Switzerland, said it completed its tender offer for all outstanding shares of Systemix Inc., of Palo Alto, Calif., at $19.50 per share. Prior to the acquisition, Novartis already owned 73 percent of Systemix. The buy-out cost Novartis more than $91 million. Systemix's board of directors agreed to the takeover in January. (See BioWorld Today, Jan. 14, 1997, p. 1.)
* Sibia Neurosciences Inc., of La Jolla, Calif., began a Phase I trial of SIB-1508Y for Parkinson's disease. The drug, a neuronal nicotinic acetylcholine receptor agonist, is designed for treatment of motor and cognitive deficits in patients.