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Emeryville drug maker sells brain tumor drug for $33 million


Posted on: 09/21/2005

EAST BAY BIZ BUZZ

Emeryville drug maker sells brain tumor drug for $33 million



Emeryville-based Neurobiological Technologies Inc. (NTII) has sold the rights of Xerecept, a brain tumor treatment drug, to a subsidiary of Bermuda-based Celtic Pharma Holdings for $33 million. NTI may receive an additional $15 million depending on what kind of approval the drug achieves and royalties from the drug's sales in the United States and abroad. Celtic Pharma will develop and market Xerecept.

Partnerships

Orinda-based Intraware Inc. (ITRA), a provider of software licensing assistance, has renewed its agreement to provide services to Primavera Systems, a software maker.

Berkeley-based Xoma Ltd. (XOMA), a biotechnology company, made an agreement with Cubist Pharmaceuticals Inc. to manufacture HepeX-B, an antibody for hepatitis B, to be used in clinical trials. If the trials have positive results, the two companies may extend the agreement to produce commercial supplies of the drug.

Relocation

AER Worldwide, a recycling and waste management company, moved its headquarters into a 75,000-square-foot facility at 42744 Boscell Road, Fremont. The new location houses about 70 employees and will be a center for its electronic component and asset recovery services. Those services allow AER to filter reusable materials from buildings that are razed.

Etc.

Pleasanton-based Safeway Inc. (SWY), a national grocery store chain, will donate about 10,000 emergency preparedness kits to low income families in California in case a disaster happens here. The kits will be distributed by the American Red Cross and the California Office of Emergency Preparedness. They contain blankets, rain ponchos, light sticks, a flashlight, batteries, water containers and a first aid kit

-------------------------------------------------------------------------------- Compiled by Blanca Torres from staff and company reports, the Associated Press. A new column is posted weekdays at the Business site on www.contracostatimes.com at 12:30 p.m. Got East Bay business news? Reach Torres at 925-943-8263 or at btorres@cctimes.com.
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