NEWPORT EXTENDS NOTE SOLICITATIONNewport Pharmaceuticals International Inc. (NASDAQ:NWPH) ofLaguna Hills, Calif., said Tuesday that it has extended the datefor its ongoing solicitation of waivers and consents from theholders of its 10 percent senior secured convertible notes(NASDAQ:NWPHG) to March 4. The company had asked noteholders in January to approve by Feb. 15 the previouslyannounced conditional settlement of two shareholder class-action lawsuits filed in 1986. The settlement terms provide forNewport to pay $1 million in cash and issue its own shares witha market value of between $1.75 and $2.1 million.-- RachelNowak
PATENT AWARDED FOR SYNERGEN'S bFGF
Synergen Inc. of Boulder, Colo., on Tuesday received U.S. Patent4.994,559 jointly with the New York University Medical Centerfor human basic Fibroblast Growth Factor (bFGF) protein. Underthe trade name Trofak, the protein is now in Phase III trials forthe treatment of chronic skin ulcers. In a joint venture withSyntex, Synergen (NASDAQ:SYGN) is also developing bFGF as atreatment for Alzheimer's and Parkinson's diseases. Synergensaid it expects to file a new drug application for Trofak in thefirst quarter of 1992.
SECOND CHILD TREATED FOR ADA DEFICIENCY
National Institutes of Health researchers have treated a secondchild with gene therapy to correct an inherited adenosinedeaminase (ADA) deficiency. The researchers said the ADAlevels of the first child to receive the therapy, who begantreatment last August, have increased to 20 percent of normal.Both children received transfusions of their own white bloodcells engineered to contain a functional copy of the ADA gene.The lack of a functioning ADA gene causes the children to beborn without working immune systems.
ASIA-PACIFIC PRESIDENT JOINS BLECH
Michael Shu, the president of Asia-Pacific Strategic Bioventuresin New York, joined the biotechnology financial house of D.Blech & Co. Inc., also of New York. Shu was named a generalpartner and will be in charge of developing joint ventures andpartnerships in the Pacific Rim.
SCHERING EXECUTIVE ELECTED TO TSI BOARD
TSI Corp. of Worcester, Mass., has elected to its board ofdirectors Francis J. Bullock, Ph.D., senior vice president ofresearch operations in Schering-Plough Corp.'s pharmaceuticalresearch division.
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