* Enzon Inc., of Piscataway, N.J., completed a $3 million privateplacement of common stock and convertible preferred stock with acurrent institutional investor. The same undisclosed institutionpurchased $7 million in stock and warrants in January 1996.
* Genentech Inc., of South San Francisco, submitted a supplementalproduct license application seeking approval of Activase(recombinant tPA) for treating ischemic stroke within three hours of asymptom onset. The submission was based on a Phase III program,results of which were published in The New England Journal ofMedicine in December 1995. (See BioWorld Today, Dec. 14, 1995,p. 1.)
* ImmunoTherapeutics Inc., of Fargo, N.D., entered into anagreement to sell 5 million shares of stock for $325,000 to DominionResources Inc., of Morristown, N.J.
* Pharmos Corp., of Alachua, Fla., completed Phase III studies of itsocular allergy product, loteprednol etabonate, a site-specificcorticosteroid. The product was evaluated in an acute conjunctivitistest and in pivotal seasonal allergic conjunctivitis studies. Resultsshould be available in May.
* Sparta Pharmaceuticals Inc., of Research Triangle Park, N.C.,acquired Lexin Pharmaceutical Corp., of Horsham, Pa., for up to 2.6million shares of Sparta stock (NASDAQ:SPTA), subject to certainpost-closing conditions. Lexin CEO Jerry Hooks was namedpresident, CEO and a director of Sparta. (See BioWorld Today, Jan.22, 1996, p. 1.)
* Sugen Inc., of Redwood City, Calif., said the FDA granted orphandrug status to the anticancer compound, SU101, in the treatment ofovarian cancer. The drug already was granted that designation fortreatment of malignant glioma.
* The Liposome Co., of Princeton, N.J., received approval in theU.K. to expand the approved indications for Abelcet, a lipid-basedformulation of amphotericin B, to include first-line treatment ofsevere systemic invasive candidiasis.
* Unimed Pharmaceuticals Inc., of Buffalo Grove, Ill., completedenrollment in a Phase II trial of nitazoxanide (NXT) forcryptosporidiosis in AIDS patients. The trial is expected to concludeby the end of June 1996. Also, the FDA said NXT qualifies fororphan drug status.
* Viragen Inc., of Hialeah, Fla., closed a $6 million private financingof its majority-owned subsidiary, Sector Associates Ltd., which willbe renamed Viragen (Europe) Ltd. A portion of the funds will beused to complete a European plant in Edinburgh, Scotland, where thenatural interferon product Omniferon will be manufactured.
(c) 1997 American Health Consultants. All rights reserved.