* Cambridge Biotech Corp., of Worcester, Mass., received $5.5million plus a $200,000 advance on royalties from MeridianDiagnostics Inc., of Cincinnati, for Cambridge Biotech's entericproduct line, which generates annual sales of $4 million. The salewas approved by the U.S. Bankruptcy Court, which is overseeingCambridge Biotech's reorganization under Chapter 11 bankruptcyprotection.
* Imutec Corp., of Toronto, began a Phase I/II trial of Virulizin fortreatment of pancreatic cancer. Virulizin, derived from bovine bile, isdesigned to stimulate an immune system response against cancercells. The 12-month trial will involve 20 patients.
* Lidak Pharmaceuticals, of La Jolla, Calif., received FDApermission to use a placebo control of its choosing for an additionalPhase III study of Lidakol (n-docosanol 10 percent cream) for oralherpes. The placebo in previous studies apparently displayed activityagainst the virus.
* Monsanto Co., of St. Louis, signed an agreement with Synteni Inc.,of Palo Alto, Calif., for use of its technology to study gene expressionin plants and organisms. Financial terms were not disclosed. The dealwill give Monsanto's Ceregen plant biotechnology business unitaccess to Synteni's Gene Expression Micro-Array system forisolating plant genes for use in developing agricultural products.
* OraVax Inc., of Cambridge, Mass., entered an agreement with CSLLtd., of Victoria, Australia, to market the former's monoclonalantibody, HNK20, which is under development for respiratorysyncytial virus (RSV). The deal allows CSL to sell the product inAustralia, New Zealand, Indonesia and Papua New Guinea. The drugis being evaluated in Phase III trials for RSV in infants.
* Seragen Inc., of Hopkinton, Mass., restructured its $23.8 millionloan to replace the lines of credit from banks with preferred stockconvertible to common shares. Investors also will receive warrants topurchase 5.95 million common shares at $4 per share. For every $1million worth of preferred stock purchased, investors will receive250,000 warrants.
(c) 1997 American Health Consultants. All rights reserved.