* Athena Neurosciences Inc., of South San Francisco, receivedpermission in the U.K. to begin a Phase II trial of Antegren, ahumanized antibody being developed to treat multiple sclerosis. Thedouble-blind, placebo-controlled study will enroll up to 80 multiplesclerosis patients and evaluate the effect of Antegren oninflammatory lesions seen in the brain.

* GelTex Pharmaceuticals Inc., of Waltham, Mass., said preliminaryresults from a Phase IIa study of CholestaGel showed the agentdemonstrated a statistically significant reduction in LDL cholesterolin patients with elevated cholesterol. The company plans to begin adose-refinement study (Phase IIb) in mid-1996.

* Genome Therapeutics Corp., of Waltham, Mass., received $1million from Schering-Plough Corp., of Madison, N.J., for achievingan undisclosed milestone in their collaboration dealing with agentseffective against drug-resistant bacteria.

* Hyal Pharmaceutical Corp., of Mississauga, Ontario, receivedpermission in Canada to begin a Phase II trial of its intravenoushyaluronan product, which is designed to prevent restenosisfollowing balloon angioplasty.

* ImClone Systems Inc., of New York, initiated an additional PhaseIb/IIa trial of C255, an epidermal growth factor receptor antagonist.The dose escalation study will evaluate C255 in combination withTaxol for breast cancer.

* Oxis International Inc., of Portland, Ore., raised $763,000 througha private placement of 587,053 shares of Series C preferred stock.The placement is the first tranche of up to a $4 million offeringexpected to close by the end of March 1996.

* Procept Inc., of Cambridge, Mass., said VacTex Inc. received a $1million investment from New Enterprise Associates, of Baltimore.VacTex now has raised $2 million since its November 1995inception.

* ProCyte Corp., of Kirkland, Wash., reached a tentative settlementin which it agreed to pay $7.5 million to settle an October 1994shareholder lawsuit. There would be a $2.5 million cash payment andthe remainder in stock or cash, at the company's discretion.

* Rhone-Poulenc Rorer Inc., of Collegeville, Pa., said data presentedat a European transplantation conference showed its geneticallyengineered granulocyte colony-stimulating factor, Granocyte(lenograstim), is more potent than Neupogen, Amgen Inc.'s G-CSF,in mobilizing peripheral blood stem cells in healthy donors. Anotherstudy showed Granocyte speeds the recovery of neutrophils. Theproduct is available in Europe.

* The American Stock Exchange started trading options on two over-the-counter stocks _ Neurex Corp., of Menlo Park, Calif., andOncogene Science Inc., of Uniondale, N.Y. The option symbol forNeurex is QNX; Oncogene's option symbol is QON.

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