* Biogen Inc., of Cambridge, Mass., said a U.S. District Court judgein New York upheld an arbitration panel's 1995 decision in favor ofBiogen related to its dispute with SmithKline Beecham plc, ofLondon, over royalties from U.S. sales of SmithKline's hepatitis Bvaccine. Since Biogen continued to receive the higher rate during thearbitration process it will not receive any payments as a result of thedecision.
* Chiron Corp., of Emeryville, Calif.; Ciba Pharmaceuticals, ofSummit, N.J.; and Focal Inc., of Lexington, Mass., are collaboratingin the area of restenosis, or the reclosure of arteries followingangioplasty. The companies will combine restenosis candidates fromCiba and Chiron with Focal's delivery technology. The worldwideagreement calls for research, milestone and royalty payments toFocal. The delivery company's approach will be to coat the interiorwall of the coronary artery with its biodegradable gel together withdrug candidates.
* GelTex Pharmaceuticals Inc., of Waltham, Mass., proposed apublic offering of 2.5 million shares at $22.75 each. New York firmsCowen & Co. and Hambrecht & Quist LLC are managingunderwriters. GelTex is developing non-absorbed polymer-baseddrugs that selectively bind to and eliminate substances from theintestinal tract.
* Genelabs Technologies Inc., of Redwood City, Calif., said ProgenePartners, a general partnership established with Proteus Internationalplc, of Macclesfield, U.K., was dissolved. The venture, formed in1992, reached its goals earlier than expected, one of which wasdemonstrating the feasibility of designing small molecules withpotential as gene-regulating drugs. Each partner retains rights totechnology contributed and they have co-exclusive rights to datagenerated during the partnership.
* ImmunoGen Inc., of Cambridge, Mass., said data published inBlood showed its lead product, Oncolysin B, overcomes andeliminates multidrug resistance in tumors. ImmunoGen is testing theagent in Phase II trials in combination with conventionalchemotherapy.
* Insmed Pharmaceuticals Inc., of Richmond, Va., closed a $7million venture capital financing, which was led by Dillon, ReadVenture Capital, of New York. Insmed is developing products todiagnose and treat insulin resistance and Type II diabetes. Trials ofthe company's first therapeutic and diagnostic candidates are nearingthe clinic.
* Magainin Pharmaceuticals Inc., of Plymouth Meeting, Pa., saidinvestigators reported that squalamine, in animal studies, inhibitedsolid tumor growth by blocking new blood vessels needed for tumornourishment. Researchers concluded squalamine is a potent andspecific inhibitor of tumor-induced angiogenesis and is well suitedfor inhibiting the angiogenesis-dependent growth of brain tumors.
* North American Vaccine Inc., of Beltsville, Md., is offering 6.5percent convertible subordinated notes in the principal amount of $75million due May 1, 2003. The notes initially are convertible at $24.86per share.
* PathoGenesis Corp., of Seattle, said underwriters exercisedoverallotment options on 375,000 shares, bringing the public offeringto 2.875 million shares at $16.25 per share. Net proceeds are about$43.4 million. (See BioWorld Today, April 29, 1996, p. 3.)
* Sheffield Medical Technologies Inc., of New York, received $5.5million through the exercise of outstanding warrants that were issuedin connection with private financings in 1995. About 1.3 millionshares were issued in connection with the warrant exchange.
* Tanox Biosystems Inc., of Houston, started a third clinical trial _ a320-patient placebo-controlled Phase IIa study _ with CGP 51901,an anti-IgE monoclonal antibody being developed with Ciba-GeigyLtd., of Basel, Switzerland, for diseases such as hay fever andallergic asthma.
* Vical Inc., of San Diego, said it expects to get a $1 millionmilestone payment from collaborator Merck & Co. Inc., of NewYork. Triggering the milestone was initiation of a Phase I trial of aDNA vaccine against influenza virus, one of seven infectious diseasetargets covered in the agreement.
* Vyrex Corp., of La Jolla, Calif., said a paper in the May issue ofBioTechniques showed its novel CD-Tagging technology, a newmethod for gene discovery and analysis, simultaneously marked atarget gene, it mRNA and its protein product. Current methods targetgenes or proteins, but never at the same time, Vyrex said. In the pastsix months a group led by Jonathan Jarvick, an associate professor atCarnegie Mellon University in Pittsburgh, succeeded in applying CD-Tagging technology to mammalian cells.
(c) 1997 American Health Consultants. All rights reserved.