* AutoImmune Inc., of Lexington, Mass., said researchers reporteddata demonstrating that white blood cells from multiple sclerosispatients receiving Myloral (oral bovine myelin) produce immune-regulating hormones that may suppress the disease. The laboratorystudies are reported in the July 1996, Journal of ClinicalInvestigation.
* Biotechnology General Corp., of Iselin, N.J., filed a premarketapproval application for the ophthalmic device, Biolon, a 1 percentsolution of sodium hyaluronate, for use in procedures such as cataractremoval.
* Boston Life Sciences Inc., of Boston, completed a privateplacement of five million shares, raising about $5 million in grossproceeds.
* Corvas International Inc., of San Diego, raised $5 million throughthe sale of one million shares at $5 each. The shares were placed withfunds managed by T. Rowe Price Associates, of Baltimore.
* Elan Corp. plc, of Dublin, Ireland, and Athena Neurosciences Inc.,of South San Francisco, said their merger, proposed in March 1996as a stock swap valued at $600 million, was approved byshareholders of the two companies. (See BioWorld Today, March 19,1996, p. 1.)
* Geron Corp., of Menlo Park, Calif., said its researchers havediscovered evidence immune system cells of HIV patients age fasterthan normal. The findings, the company suggested, may help explainthe breakdown of the immune system in response to fighting AIDS.Geron scientists, who collaborated with researchers at the Universityof California at Los Angeles School of Medicine, said patients withlate-stage HIV have immune cells similar to those of a 100-year-oldperson. The study was published in the June 27, 1996, AIDS.
* LeukoSite Inc., of Cambridge, Mass., said its scientists incollaboration with researchers at Cambridge-based HarvardUniversity Medical School and several Boston hospitals cloned theeotaxin receptor, which is involved in stimulating the immunesystem. The receptor is part of a family of chemokine receptors onleukocytes, which are white blood cells. The work was published inthe June 1996 issue of the Journal of Experimental Medicine.
* Genta Inc., of San Diego, said the eighth non-Hodgkin' slymphoma patient treated in a Phase I/II trial with G3139 achieved acomplete response (disappearance of all disease). Also, four of eightpatients demonstrated clinical and/or biological activity. Separately,Genta said the National Cancer Institute will fund and conductstudies of the antisense drug in various tumors.
* Gilead Sciences Inc., of Foster City, Calif., said it discoveredantisense oligonucleotides that provide potent and selective inhibitionof targeted genes in vitro using compounds one-third the size of first-generation technologies. The data were presented in the July 1, 1996,Nature Biology.
* Immunomedics Inc., of Morris Plains, N.J., completed constructionand began validation of a 7,500-square-foot facility at its MorrisPlains headquarters.
* Interferon Sciences Inc., of New Brunswick, N.J., said its licenseein Mexico began a trial of the injectable formulation of Alfa-n3,Interferon's natural source interferon, for hepatitis C.
* Neocrin Co., of Irvine, Calif., obtained exclusive rights to a patenton diabetes cell therapy from the University of Texas. The licenserelates to the encapsulation of biological materials usingphotopolymerization of water soluble molecules.
* OraVax Inc., of Cambridge, Mass., said underwriters of its recentpublic offering exercised overallotment options on 300,000 shares at$7.25 each, bringing gross proceeds to nearly $16.7 million. (SeeBioWorld Today, June 27, 1996, p. 2.)
* Theratechnologies Inc., of Montreal, filed to distribute 4.25 millionClass B subordinate voting shares at $3 each, of which 2.5 millionare new shares and 1.75 million are being sold in a secondaryoffering. The estimated net proceeds will be C$6.75 million.
(c) 1997 American Health Consultants. All rights reserved.