• Cytel Corp., of San Diego, said it has received a milestone payment from Baxter Healthcare Corp.’s Nextran unit for the first delivery of a bioactive carbohydrate to be used in a xenotransplantation product. Cytel received $500,000 as part of a collaboration inked last October when Nextran entered into an exclusive supply agreement with Cytel’s glycotechnology business unit.

• DepoTech Corp., of San Diego, which specializes in drug delivery, said it completed a private placement in which it sold 1.5 million newly issued shares (NASDAQ:DEPO) of common stock at $13.50 each. The placement was managed by Vector Securities International Inc. DepoTech raised $38 million in an initial public offering in September 1995 and, as of Sept. 30, 1996, had $24.2 million in cash.

• Genzyme Transgenics Corp., of Framingham, Mass., and BASF Bioresearch Corp., of Worcester, Mass., are joining forces to produce biopharmaceutical products in the milk of transgenic goats. BASF will make up to $6 million in research and development payments to Genzyme Transgenics over the next three years.

• Palatin Technologies Inc., of Princeton, N.J., is joining with Nihon Medi-Physics Co. Ltd., of Tokyo, to develop diagnostic imaging products based on Palatin’s Midas Technology for the design of metallo-peptide analogs used in radionuclear diagnostic imaging. The deal is worth between $15 million and $20 million to Palatin.

• Protein Design Labs Inc., of Mountain View, Calif., is collaborating with Genetics Institute, to develop products based on GI’s technology for co-stimulation of immune responses and PDL’s antibody humanization technology. PDL has received a $2.5 million license fee from GI and could receive undisclosed milestone payments and royalties on future products.

• Protein Polymer Technologies Inc., of San Diego, Calif., said it completed a private placement of 1.9 million shares of common stock and raised $4.76 million.

• U.S. Bioscience Inc., of West Conshohocken, Pa., said it has been granted marketing clearance for a crystalline formulation of Ethyol (amifostine) and a U.S. patent allowance covering the same version. Ethyol was granted FDA approval last year for the amorphous form of the drug to reduce renal toxicity associated with repeated cisplatin administration in patients with advanced ovarian cancer or non-small cell lung cancer.