20 September 1999 00:00 [Source: ICB Americas]AMERSHAM PHARMACIA Biotech has received PHRED validation for its MegaBACE 1000 DNA sequencer. It is the only capillary sequencer to be validated with the new version of PHRED, says the company.
ASTRAZENECA says its tamoxifen treatment for advanced breast cancer could be seriously challenged by Arimidex (anastrozole), a new drug with a different mode of action. A new North American study suggests that anastrozole could be a more effective treatment option.
BIOJET MEDICAL TECHNOLOGIES Inc. has entered into an agreement with an undisclosed biotechnology company that evaluates Biojet's technology. The move may lead to a long-term licensing and supply agreement for its needle-free injection technology. Under the agreement, Biojet has been paid $500,000. Of that, $150,000 is subject to the completion of certain milestones.
BRISTOL-MYERS SQUIBB Company and Exelixis Pharmaceuticals Inc. have entered into a three-year research collaboration to identify novel, validated targets for new medicines using model system genetics.
CELL GENESYS INC. has reacquired the product rights to its AIDS gene therapy program following the termination of a collaboration agreement with Hoechst Marion Roussel Inc. HMR will pay Cell Genesys nearly $8 million in connection with the termination. A separate license agreement between the two companies for gene activation technology will continue.
CURAGEN CORPORATION, an integrated genomics-based drug discovery and development company, has sold 1.5 million newly issued shares of common stock to funds managed by Pequot Capital Management Inc. The stock is being issued at $10 per share, and the total value of this private placement is $150 million.
ELI LILLY & CO. has entered into an agreement to have its hepatitis C drug candidate evaluated by XTL Biopharmaceuticals Ltd., which will test the drug using its proprietary animal model. The companies anticipate that XTL's technique could accelerate the development and commercialization of drugs used to treat hepatitis C.
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