CytRx Announces UMMS Researcher, Dharmacon Deal Two Months Late
CytRx announced this week that its type 2 diabetes and obesity programs are the subject of a deal between Dharmacon and University of Massachusetts Medical School researcher Michael Czech, two months after the news was first made public.
Czech recently formed a collaboration with CytRx under which the company is funding work in his lab to develop RNAi-based therapies for the two diseases. In early January, Dharmacon said that it had signed a deal to design and supply siRNAs to Czech in support of these drug development efforts (see RNAi News, 1/9/2004).
CytRx’s announcement gave the company’s stock a shot in the arm, sending shares up almost 3 percent to $1.77 in mid-Thursday trading on the NASDAQ. The shares remain well-off a 52-week high of $3.74.
GNF Buys OriGene cDNA Collection
The Genomics Institute of the Novartis Research Foundation has purchased a human cDNA clone collection from OriGene Technologies, OriGene said this week.
The library contains over 20,000 non-redundant full-length human cDNA clones, covering 65 to 80 percent of all predicted human cDNAs, according to the Rockville, Md.-based company.
GNF will use the collection for in-house high-throughput research.
AVI Reports Increased Fourth-Quarter Expenses, Decreased Net Loss
Antisense drug developer AVI BioPharma reported this week a rise in fourth-quarter operating costs amid increased research and development spending.
AVI’s operating costs were $7.3 million in the quarter, up from $4.3 million in the fourth quarter 2003. R&D spending rose to $6.4 million in the fourth quarter from $3.5 million in the year-ago quarter, while general and administrative costs edged up about $114,000 to $888,440.
AVI posted a fourth-quarter net loss of $3.1 million, down from $4 million. Revenues for the quarter, generated from licenses, grants, and research contracts, fell to $135,181 from $169,206.
CombiMatrix Gets $5.9 Million DOD Grant to Develop Biowarfare Detection Technology
Acacia Research said this week that its CombiMatrix subsidiary has received a two-year Department of Defense contract, worth up to $5.9 million, to develop its microarray technology for the detection of biological threat agents.
The focus of the effort, said the company, will be the integration of the CombiMatrix technology with microelectronics and microfluidics, as well as the development of an automated system for detection biothreat agents.
Promega, EraGen Strike Gene Expression Technology Deal
Promega said this week that it has acquired the exclusive rights to distribute to the research market quantitative gene expression assays that use EraGen technology.
Promega said that it will develop and manufacture reagent systems, and EraGen will provide proprietary chemistry and software.
A branded product is expected to be launched this year, Promega said.
Nastech Reports Higher Fourth-Quarter Loss
Nastech posted this week a rise in its fourth-quarter net loss, to $5.9 million from $5.7 million.
The company’s revenues in the period fell to $911,000 from $1.8 million in the fourth quarter last year, largely due to a sharp drop in product revenue.
Nastech spent approximately $5.1 million on research and development in the fourth quarter, up from $2.9 million in the same period 2002.
As of Dec. 31, Nastech had cash and cash equivalents totaling $16.8 million.
Last month, Nastech announced that it had entered the RNAi field through the licensing of the Fire-Mello patent (see RNAi News, 2/6/2004).
During a conference call earlier this week, Nastech CSO Paul Johnson said that the company is “making early progress that may help solve” some of the delivery problems associated with RNAi-based drugs. “During the coming year, you will hear scientific presentations on the progress we are making,” he added.
CHI Schedules RNAi Conference
Cambridge Healthtech Institute has scheduled an RNAi conference for April 27-28.
The conference is entitled “RNAi for Pathway Analysis,” and is being held at the Sheraton Boston Hotel.
Talks at the conference will focus on such topics as the use of RNAi to validate older targets and find new ones, the analysis of cell division genes using genomic RNAi screening in C. elegans, and using RNAi to understand tumor neovascularization.
Details about the event can be found at http://www.healthtech.com/2004/rpa/index.ASP.