* CytoTherapeutics Inc., of Providence, R.I., postponed a proposedfollow-on offering of 2 million shares, because of the current marketconditions and the stock's price.
* Biogen Inc., of Cambridge, Mass., said its European headquarters,research and distribution operations will be located in Nanterre, aParis suburb. It expects to begin staffing early in 1995.
* Guilford Pharmaceuticals Inc., of Baltimore, closed on an $8million loan, a portion of which will be used for construction of agood manufacturing practices facility for the manufacture of Gliadel,the company's lead product candidate for treatment of brain cancer.
* SmithKline Beecham, of Philadelphia, signed an agreement withLondon-based British Technology Group, a technology transfergroup, for rights to develop and market idoxifene, a derivative oftamoxifen, for the treatment of breast cancer.
* Amgen Inc., of Thousand Oaks, Calif., said the Federal TradeCommission has cleared the company in its tender offer for alloutstanding shares of Synergen Inc., of Boulder, Colo. Amgenexpects to complete the buyout of Synergen by Dec. 21. The $258million acquisition was announced Nov. 18.
* T Cell Sciences Inc., of Needham, Mass., received orphan drugdesignation from the FDA for its soluble complement receptor 1 fortreating adult respiratory distress syndrome (ARDS). The drug, inPhase I studies for ARDS, is the company's lead product candidateamong its complement inhibitors.
* Cytel Corp., of San Diego, initiated a multicenter Phase II clinicaltrial of its cell adhesion blocker, Cylexin, for prevention ofreperfusion injury caused by acute heart attacks during primaryangioplasty. Cylexin, formerly called CY-1503, is a complexcarbohydrate that binds to both E- and P-selectin receptors.
* Aradigm Corp., of Hayward, Calif., said it has raised $7.8 millionin its latest round of financing, bringing the four-year-old, privatelyheld company's total funding to $12.4 million. Aradigm isdeveloping aerosol drug delivery systems to be used in combinationwith therapeutics, focusing initially on asthma, diabetes and painmanagement.
* Sugen Inc., of Redwood City, Calif., has filed its firstinvestigational new drug application with the FDA to begin clinicaltrials of SU101, a small molecule compound designed to inhibitplatelet-derived growth factor. The company said it intends to testthe drug for the treatment of solid tumor cancers, such as braintumors (glioblastoma) and ovarian cancer.
* Neoprobe Corp., of Dublin, Ohio, citing unfavorable marketconditions, has postponed a proposed public offering of 1.1 millionshares of common stock. The company also said it considers theprice of its stock (NASDAQ:NEOP) to be undervalued.
* Oxigene Inc., of New York, said clinical trials of its immune repairassay, measuring total serum thiol levels in HIV patients, showed thetest was better indicator than Beta-2 microglobulin in assessing thestatus of the disease.
* The Upjohn Co., of Kalamazoo, Mich., and Tanabe ResearchLaboratories U.S.A. Inc., of San Diego, have entered into a researchcollaboration to develop cell adhesion antagonists for treatment ofinflammatory diseases. Tanabe Research Laboratories is a subsidiaryof Japan-based Tanabe Seiyaku Co. Ltd.
* Hoffmann-La Roche Inc., of Nutley, N.J., said the FDA'sOncologic Drugs Advisory Committee recommended approval of thecompany's Vesanoid, an all-trans retinoic acid (ATRA), for inducingremission of acute promyelocytic leukemia in patients who have notresponded to other treatments or who can not receive anthracycline-based chemotherapy. Vesanoid, a gelatin capsule, is taken orallyuntil remission is achieved for a maximum of 90 days. (For more onATRAs, See BioWorld Today, Dec. 6, 1994, p. 1.)
* Bristol-Myers Squibb Co., New York, said Taxol has received afavorable review by the European Union Committee for ProprietaryMedicinal Products in Brussels. The committee has recommendedthat European Union nations approve the product for advancedbreast cancer.
* Boston Biomedica Inc. (BBI), of West Bridgewater, Mass., hasreceived exclusive licensing rights to six potential anti-AIDScompounds screened from plants by researchers at the University ofNorth Carolina at Chapel Hill in collaboration with Biotech ResearchLaboratories, a BBI subsidiary. Many of the plants, which are knownfor their medicinal value, are from the Far East.
* Genetic Therapy Inc., of Gaithersburg, Md., has adopted astockholder rights plan to thwart hostile takeovers. The companysaid the move was not made in response to a particular acquisitionproposal.
(c) 1997 American Health Consultants. All rights reserved.