* Canadian government-funded Bacterial DiseasesNetwork and Genetics Disease Network, both ofEdmonton, entered into a three-year agreement withSciex, of Ontario, and the University of Alberta todevelop rapid gene sequencing technology. Sciex, aninstrumentation maker, is a division of MDS HealthGroup Ltd. in Canada.
* Cytogen Corp., of Princeton, N.J., raised $2.7 millionthrough the sale of 665,352 shares to New York-basedFletcher Asset Management Inc. Cytogen said it also hasan agreement with Fletcher to sell up to 675,000 additionshares to the investment firm between Oct. 13, 1995 andMarch 29, 1996.
* Oxigene Inc., of New York, said a Phase I study ofNeu-Sensamide, a high dose form of metoclopramide toenhance radiation and chemotherapy treatments andreduce vomiting, showed Neu-Sensamide injectionsachieved 95 percent bioavailability when compared withintravenous infusions of metoclopramide. Neu-Sensamideis a second generation form of Sensamide, which is inPhase II/III studies for squamous cell lung cancer.Oxigene expects to begin Phase III studies with Neu-Sensamide in 1996.
* Regeneron Pharmaceuticals Inc., of Tarrytown, N.Y.,settled a 1994 class-action shareholder lawsuit for $4million, most of which will be paid by the company'sinsurance carriers. Regeneron will pay less than $1million. The federal lawsuit was filed by shareholders inresponse to the failed development of ciliary neurotrophicfactor for amyotrophic lateral sclerosis, or Lou Gehrig'sdisease.
* Teva Pharmaceutical Industries Ltd., of Jerusalem,submitted Copaxone for approval in the U.K. fortreatment of multiple sclerosis. Following action by theU.K.'s Medicine Control Agency, Teva will seek marketclearance in all European Union countries.
(c) 1997 American Health Consultants. All rights reserved.