* Biogen Inc., of Cambridge, Mass., entered European marketingcollaborations for Avonex with Astra AB, of Sodertlje, Sweden, andSchering-Plough Corp., of Madison, N.J. Avonex (interferon beta 1a)was approved in the U.S. in May 1996 for multiple sclerosis. It isunder review in Europe. Astra has rights to sell Avonex in Denmark,Finland, Iceland, Norway and Sweden. Schering-Plough will marketthe drug in Spain. Financial terms of the marketing agreements werenot disclosed.
* Eli Lilly and Co., of Indianapolis, received FDA approval to marketthe company's growth hormone drug, Humatrope, for somatropindeficiency syndrome (SDS) in adults. Humatrope has been on themarket since 1987 as a replacement therapy for children who do notproduce enough of their own growth hormone.
* Sparta Pharmaceuticals Inc. raised $6.3 million in gross proceedsfrom an ongoing private placement of 100,000 units, each of whichconsists of 10,000 convertible shares and warrants to purchase66,667. The price for converting stock and exercising the warrants is$1.50 per share. Sparta also said it has an option on an anticancerdrug, an oral formulation of asulacrine, which began a Phase I trial inthe U.K.
* VIMRx Pharmaceuticals Inc., of Stamford, Conn., said it plans tobegin Phase I trials in September 1996 for VIMRxyn to treatrecurrent malignant glioma in brain cancer patients. The drug isdescribed as a chemically synthesized hypericin.
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