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US Financial Network: Genentech announces second quarter profit and ID Biomedicals flu vaccine granted fast track by FDA
7/12/05
Jul 12, 2005 (M2 PRESSWIRE via COMTEX) --

City of Industry, CA - Biotechnology industry news provided by Financial News USA (OTC: FNWU). Shares of Genentech Inc. (NYSE: DNA) rose Tuesday, a day after the biotechnology company reported its second-quarter profit surged 73 percent, fueled by continued strong drug sales. The company's stock rose $1.13, or about 1.4 percent, to $84.63 in early trading on the New York Stock Exchange. ID Biomedical Corporation (NASDAQ: IDBE) announced today it has been advised by the United States Food and Drug Administration's Center for Biologics Evaluation and Research (CBER) that the Company's Influenza Virus Vaccine (Fluviral(TM)) has been granted a Fast Track designation.

U.S. BioDefense (OTC BB: UBDE) is pleased to announce recently that it has signed a six (6) month option to license world patent application WO 03/054202 A1 and U.S. patient application 5,958,767 entitled "Generation of Human Neural Crest Stem Cell Line and Its Utilization in Human Transplantation" and related applications with the University of British Columbia developed by Dr. Seung Kim in the Department of Neurology at UBC. U.S. BioDefense joins StemCells, Inc. (Nasdaq: STEM) as the only two major public companies to pioneer Neural Crest Stem Cell technology in the United States.

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