Drugs
Texas Biotechnology Corporation has met a technical milestone in its computer-aided drug design program, triggering an additional research payment of $2 million from Eisai Co., Ltd. of Japan. The company, led by President and CEO David B. McWilliams, has successfully applied proprietary computer-aided drug design technology to develop small molecule
Biotechnology industries
Genentech, Inc., a leading biotechnology company, and Roche Holdings, Inc. have revised their merger agreement, announced in May 1995, to change the form of the transaction. The new agreement extends for four years Roche's option to purchase Genentech's outstanding common stock at escalating prices, up to
Biotechnology industries
Martek Biosciences Corp. has made a significant financial move by selling 915,816 shares of its common stock and warrants to purchase 320,215 shares of its common stock to institutional investors. This transaction, valued at $9.1 million, will provide the company with additional resources to commercialize its innovative
Pharmaceutical industry
Procept, Inc. has announced the completion of its Phase I safety trial in the United Kingdom with the Company's lead drug candidate, PRO 2000, for the treatment of human immunodeficiency virus type I (HIV-1). The initial examination of the Phase I data indicates that PRO 2000 was well
Pharmaceutical industry
Genetic Therapy, Inc. (Nasdaq: GTII) announced the initiation of the first clinical trial of a human gene therapy treatment for Gaucher disease, a genetic disorder that affects approximately 20,000 patients in the U.S. alone, including as many as 5,000 severe cases. The trial involves a total of
Drugs
Bristol-Myers Squibb Company has exercised its exclusive option to license Phyton's proprietary plant cell culture technology for the production of the anticancer drug TAXOL(R) (paclitaxel) and various related substances. This technology represents a new method of producing paclitaxel that requires neither the bark of trees nor cultivated
Pharmaceutical industry
Eli Lilly and Company, a global pharmaceutical corporation, has announced the acquisition of Sudbury-based RxPlus, a leading company in the prescription drug adjudication market. This strategic move aims to improve healthcare outcomes and reduce costs through the integration of Lilly Canada's research expertise and RxPlus' advanced information
Drugs
Repligen Corporation, a global biopharmaceutical company, has launched Allegro Biologics, a strategic business unit focused on process development and manufacturing. The new division, led by Ashley Lawton, Ph.D., marks a significant expansion of Repligen's capabilities in the biotechnology and pharmaceutical industries. Allegro Biologics is poised to capitalize
Pharmaceutical industry
Chiron Corp. reported its first quarter 1995 results, which included a significant loss of $385,778,000, compared to net income of $4,817,000 in the first quarter of 1994. Despite this loss, the company's quarterly revenues reached a record high, driven by the acquisitions of Ciba
Drugs
Wal-Mart's Pharmacy Division recognized Eli Lilly and Company as its Vendor/Partner of the Year, citing the pharmaceutical company's commitment to delivering superior value and quality. The award was presented at Wal-Mart's world headquarters in Bentonville, Arkansas, in recognition of Lilly's excellence
Drugs
Genzyme Transgenics Corp. has announced a significant improvement in its financial performance for the first quarter of 1995. The company's net loss for the quarter was $2.3 million, down 29% from the previous quarter's net loss of $3.2 million. This improvement was driven by
Drugs
Cortech Inc., a Denver-based biopharmaceutical firm, has announced the reduction of its staff by 34 employees, equivalent to 20% of its workforce, primarily due to decreasing activities in pilot-manufacturing and related functional areas. The restructuring aims to reduce spending and conserve cash, while still maintaining the ability to ramp up
