Biotech Busine$$ Daily (APPY, LIFC, KCI, MNOV, MCU)

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AspenBio Pharma (NASDAQ: APPY) entered into a definitive agreement with Novartis Animal Health for AspenBio’s recombinant single-chain bovine products for animals. Shares are up 4% to $6.24.

LifeCell (NASDAQ: LIFC)is to be bought by Kinetic Concepts (NYSE: KCI) for $1.7 billion in cash. The offer is for $51 per share and will allow Kinetic to access the rapidly expanding biosurgery market. Shares of LifeCell are up almost 17% to $50.44 on a 52-week range of $24.53 to $48.28. Kinetic is up almost 6% to $49.79 on a 52-week range of $40.90 to $66.77.

MediciNova (NASDAQ: MNOV) released clinical results on two-year Phase II study of MN-166 on multiple sclerosis. The study showed positive results however the market is not reacting accordingly. Shares are down $0.19, 5%, to $3.81 on a 52-week range of $3.27 to $10.71.

Medicure (AMEX: MCU) continuing to rise on positive results on Aggresat, a tirofiban, released last week. The results show that use of the treatment significantly improved heart attack survival. Today, shares are up over 17% to $0.10 on a 52-week range of $0.05 to $1.64.

Rachel Lopez
April 7, 2008