VaxGen Inc. raised $15 million by selling a portion of its shares in Celltrion Inc. while still maintaining a significant stake in the joint venture. (BioWorld Today)
Neurobiological Technologies Inc. signed a definitive agreement to sell the rights of its Phase III product Xerecept to a subsidiary of Celtic Pharma Holdings LP for up to $48 million. (BioWorld Today)
Although one-year results of Campath in treating multiple sclerosis showed strong efficacy, Genzyme Corp. and partner Schering AG suspended dosing in a Phase II trial in response to three confirmed cases of severe idiopathic thrombocytopenic purpura (ITP). (BioWorld Today)