CytRx Corp., of Norcross, Ga., has filed an investigational new drugapplication to begin clinical trials of its product, CRL-1336, in treatingdrug-resistant cancer. The initial trial will focus on multiple drugresistance in acute leukemia; later trials will focus on reversing thecondition in breast cancer and multiple myeloma. Cytogen Corp., of Princeton, N.J., has received $1.75 million fromthe purchase of 500,000 shares at $3.50 a share by Fletcher CapitalMarkets, Inc., a New York City- based private investment firm.Fletcher has also agreed to buy another 900,000 Cytogen shares onAug. 2, 1994, with an option to purchase up to 9.9 percent of thecompany's outstanding stock through Aug. 2, 1995. Genset, of Paris, has received a grant of FF4.5 million (U.S.$785,000) from the French government and a free fully-equippedoffice at the Business Center in Tokyo from JETRO, a non-profit,semi-governmental Japanese organization that promotes exports, forthe establishment of a commercial subsidiary in Japan, Genset K.K.Genset also has a Californian subsidiary, Genset Corp. Inflazyme Pharmaceuticals Ltd. reported positive test results of itsproprietary anti-asthma drug, Pneumocort, as a topical treatment inanimal models.
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