CELGENE NARROWS STRATEGIC FOCUSCelgene Corp. (NASDAQ:CELG) of Warren, N.J., told theHambrecht & Quist Conference in Life Sciences in San Franciscolast week that its strategic focus was narrowed to chiralchemicals and bioremediation. Celgene has agreed to install abioreactor to clean methylene chloride factory waste for anunnamed large chemical company by this year's secondquarter, said John Ufheil, Celgene's president. It also expects tosign up by the end of March an unidentified corporate partnerfor a waste treatment project. Celgene anticipates receiving anup-front fee of $5 million to $7 million and an equityinvestment of $3 million to $5 million in exchange for about 10percent ownership of Celgene.
INTERNEURON IDENTIFIES SALT ENHANCER
Interneuron Pharmaceuticals Inc. (NASDAQ:IPIC) of Lexington,Mass., announced that it has identified a compound that acts asa salt enhancer. The compound can reduce the use of salt by 80percent to 90 percent without sacrificing flavor, said CharlesCasamento, Interneuron's president. The company also plans tosubmit within six months a new drug application fordexfenfluramine, a serotonin uptake inhibitor to suppressappetite. Dexfenfluramine is approved in 35 countries,including France, where it has $44 million in annual sales andis the leading anti-obesity product. .
QUADRA LOGIC EXPECTS CANADA TO OK PHOTFRIN
Quadra Logic Technologies Inc. of Vancouver, British Columbia,delayed the date it anticipates Canadian approval of itsPhotofrin photodynamic anti-cancer treatment from late 1990to the first half of 1991. It also delayed plans to file for U.S.marketing approval of Photofrin until the end of 1991
SYNCOR TO DISTRIBUTE SQUIBB'S CARDIOTEC
Syncor International Corp. (NASDAQ:SCOR) of Chatsworth, Calif.,said that it signed an exclusive agreement to distribute Bristol-Myers Squibb's CardioTec cardiac heart diagnostic imagingagent.
SECOND PHASE OF FROZEN BLOOD CELL VIABILITY
Agouron Pharmaceuticals Inc. (NASDAQ:AGPH) of La Jolla, Calif.,and CryoLife Inc. of Marietta, Ga., said that they entered intothe second phase of their joint development of technology toenhance the viability of frozen red blood cells and other humantissues and organs. Unpublished results of feasibility studies byCryoLife researchers on standard unit volumes of bloodestablished that a small protein molecule engineered byAgouron sharply increased red blood cell survival after afreeze-thaw cycle. The studies suggest a simpler and moreflexible general method for the cryopreservation of blood thanis now in use.
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