CELLULAR COMPLETES $8.1M FINANCINGCellular Transplants Inc. of Providence, R.I., said Monday itcompleted an $8.1 million second round of financing. Chiefexecutive officer Mark Levin said the company plans to use thecash to develop cell transplant products for the treatment ofinsulin-dependent diabetes, Parkinson's and other neurologicaldiseases. Cellular Transplants hopes to begin human clinicaltrials of encapsulated cells to treat Parkinson's in 1992.
The Mayfield Fund, St. Paul Venture Capital, CommonwealthBioventures, Ramallah Capital, and Hill, Carman, Kirby &Washing participated in the financing. The Mayfield Fundprovided $2.5 million in seed financing when the company wasfounded in 1989.
DOCTORS PLAN FETAL RESEARCH BOARD
The American College of Obstetricians and Gynecologists andThe American Fertility Society said Monday that they plan tocreate a national advisory board to review proposals for pre-embryo and fetal research. The 15-member National AdvisoryBoard on Ethics in Reproduction may help control research inareas such as the embryonic diagnosis of genetic diseases andfetal tissue transplantation to treat Parkinson's disease. Dr.Howard Jones of the AFS said there has been a de factomoratorium on research into "assisted reproduction" since thegovernment failed to fill its own ethics advisory board in 1980.Research into some reproductive technologies requiresclearance before receiving federal funding.
SEPRACOR ACQUIRES RHONE-POULENC'S IBF
Sepracor Inc. of Marlborough, Mass., and the Rhone-PoulencGroup of France announced an agreement under whichSepracor acquires IBF, a French company controlled by Rhone-Poulenc, for an undisclosed amount of cash and stock.
IG COMPLETES ODYSSEY ACQUISITION
IG Laboratories (NASDAQ:IGLI) of Framingham, Mass., said lastweek it completed its acquisition of Odyssey Biomedical Corp.Terms of the purchase were not disclosed. Odyssey is IG Labs'third acquisition of a regional lab in the past year.
CONNAUGHT SIGNS PACT WITH SWEDEN'S SYMBICOM
Pasteur Merieux subsidiary Connaught Laboratories Inc. ofSwiftwater, Pa., signed a research, development and marketingagreement with Symbicom AB of Sweden. CLI gains exclusiveworldwide rights to market and distribute Symbicom LymeDisease vaccines and diagnostics.
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