* Cambridge Biotech Corp., of Worcester, Mass., said the FirstCircuit Court of Appeals dissolved a temporary stay entered by thecourt on Sept. 30, and denied a request by the Institut Pasteur andPasteur Sanofi Diagnostics, of Lyon, France. A hearing on Pasteur'sappeal will be held in November. The action related to CambridgeBiotech's reorganization plan.

* Cephalon Inc., of West Chester, Pa., and collaborator TAPHoldings Inc. began a Phase I trial of CEP-2563, a compound beingdeveloped for treating cancers. The compound is a member of afamily of tyrosine kinase inhibitors.

* GenVec Inc., of Rockville, Md., gained an exclusive worldwidelicense to all gene transfer pharmaceutical applications of the humanform of inducible nitric oxide synthase gene. It licensed thetechnology, which initially will be developed for vascularcomplications, from the University of Pittsburgh.

* Novavax Inc., of Rockville, Md., said it privately placed 505,000common shares with institutional investors at $3.75 per share. VectorSecurities International Inc., of Deerfield, Ill., was placement agent.

* RiboGene Inc., of Hayward, Calif., was awarded two SmallBusiness Innovation Research grants totaling $1.4 million to continuedevelopment of hepatitis C therapeutics, and antiviral and anticancertherapeutics based on the activity of the cellular enzyme PKR.

* Texas Biotechnology Co., of Houston, entered an alliance with LGChem, a subsidiary of the South Korean industrial conglomerate LGGroup, for two programs that include the therapeutics TBC 1269, aselectin antagonist, and TBC 11251, an endothelin A receptorantagonist. LG Chem will make an equity investment of $5 million at$4 per share and make research milestone payments of $10.7 millionover five years. LG Chem gained marketing rights in Asia, excludingJapan.

(c) 1997 American Health Consultants. All rights reserved.