Scios Nova Inc. announced Thursday that it has purchased theassets of Nova Technology Limited Partnership (NTLP) with theissuance of 2.5 million shares of Scios Nova common stock.

NTLP was formed in 1987 by Nova Pharmaceuticals Corp.,which merged with Scios Inc. last September to form SciosNova Inc. Scios Nova will report a one-time, non-cash charge tooperations of approximately $20.5 million for the fourthquarter of 1992.

NTLP's assets consist primarily of research and development inprocess on three projects: anti-inflammatory agents calledbradykinin antagonists; an implant to treat primary braincancer; and an implant for the treatment of osteomyelitis, aserious bone infection. As of Dec. 31, Scios Nova had 34,618,112shares of common stock outstanding, including shares issued topurchase NTLP.

The Mountain View, Calif.-based company's stock(NASDAQ:SCIO) closed Thursday at $9.75, up 13 cents a share.

(c) 1997 American Health Consultants. All rights reserved.

No Comments