* Osteotech Inc., of Shewsbury, N.J., said it will repurchase 250,000shares of its common stock over the next 18 months as long as marketprices are at levels deemed appropriate by the company's board.Osteotech, which processes human bone and connective tissue fortransplantation, currently has about 7,110,000 shares outstanding.* The Massachusetts Biotechnology Research Institute (MBRI) willreceive $3.7 million in federal funds to boost economic developmentprojects under way in Worcester and Boston. The MBRI is anindependent, tax-exempt corporation created to facilitate the growth ofthe state's biotechnology industry by assisting new companies.* Abaxis Inc., Sunnyvale, Calif., has registered with the Securities andExchange Commission to sell 2 million shares of common stock toinstitutional investors. The company said that as of June 30, it hadabout 6,300,000 shares outstanding. Abaxis markets portable bloodanalysis systems to veterinarians and is developing the products to testhuman blood.* American Biogenetic Sciences Inc., of Copiague, N.Y., has signed aclinical trial agreement with New England Deaconess Hospital andHarvard Medical School in Boston to study the company's solublefibrin diagnostic test, SOLFIB, for blood clot formation. SOLFIB is anenzyme immunoassay using monoclonal antibodies, which have anaffinity for fibrin polymer, to detect an impending heart attack or toscreen post-operatively for clot formation.* GeneMedicine Inc., of Houston, has received a $75,000 Phase ISmall Business Innovation Research Grant from the National Institutesof Health to help fund development of the company's gene-switchtechnology, which is designed to control gene function by using steroiddrugs.* Penederm Inc., of Foster City, Calif., said it has received approval inCanada to market three new concentrations of Vitinoin, a prescriptionretinoic acid topical cream for acne. The company already was grantedCanadian approval of its acne gel form of Vitinoin. Penederm's newdrug applications of Vitinoin are under review by the FDA in the U.S.* ID Biomedical Corp., a Vancouver, Canada-based companydeveloping DNA diagnostic products, is listing its common shares onThe Montreal Exchange. The company's symbol is IDB and inpublished stock quotes it will be listed as ID Bio.
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