LONDON - ProStrakan Group Ltd. raised £22 million (US$40.3 million) from existing shareholders, giving it the leeway to launch an initial public offering at the time of its choosing in 2005 and enabling former Strakan institutional investors to recalibrate their shareholdings following the merger earlier this year with ProSkelia SA. (BioWorld International)

LONDON - ProStrakan Group Ltd. raised £22 million (US$40.3 million) from existing shareholders, giving it the leeway to launch an initial public offering at the time of its choosing in 2005 and enabling former Strakan institutional investors to recalibrate their shareholdings following the merger earlier this year with ProSkelia SA. (BioWorld International)

LONDON - Amgen Inc. received a double blow against the patent covering its blockbuster drug erythropoietin (EPO) when the UK House of Lords reversed an earlier legal decision and ruled the claims of the patent are too broad, while at the same time upholding an earlier judgment that Transkaryotic Therapies Inc.'s method of producing EPO does not infringe Amgen's EPO patent. (BioWorld International)