Texas Biotechnology Corp. said Wednesday it finalized an agreementto take over ImmunoPharmaceutics Inc., a rational drug designcompany based in San Diego focusing on small molecule compounds.Texas Biotechnology, of Houston, paid 1.6 million shares of stock forthe acquisition. It also pledged another 2.4 million shares based onImmunoPharmaceutics achieving certain development milestones withrespect to its endothelin A antagonist and Texas Biotechnology'svascular cell adhesion molecule program.Joseph Welch, Texas Biotechnology's vice president of businessdevelopment, said that ImmunoPharmaceutics has used itssupercomputer drug design to develop nonpeptide endothelinantagonists, which have indications in cardiovascular, renal, centralnervous system and pulmonary areas. The antagonists blockendothelin, which is a potent vasoconstrictor causing serious clinicalresponses.Welch said Texas Biotechnology expects to file an investigational newdrug application with the FDA for endothelin A antagonist and beginclinical trials as early as next year.Both Texas Biotechnology and ImmunoPharmaceutics have beeninvolved in research to develop small molecule drugs to treat diseasesin the cardiovascular and inflammation areas._ Charles Craig
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