Elbion AG reeled in €25 million in Germany's first significant biotech financing of 2005. The company, which was formed through a management buyout of some of Degussa AG's pharmaceutical assets in 2002, concentrates on the discovery and development of small molecules that are effective against inflammatory and central nervous system diseases. (BioWorld International)

Maxim Pharmaceuticals Inc. is looking for a life preserver. The San Diego company conceded that another Phase III trial of Ceplene (histamine dihydrochloride) is needed before it seeks FDA approval of the product. The decision was based on ongoing correspondence with the agency, as well as consultations with external advisers, both of which determined that the additional study of Ceplene combined with interleukin-2 for acute myeloid leukemia patients in complete remission would be necessary before applying for marketing clearance in the U.S. (BioWorld Today)