Biotech Stocks

. . . Gene mouthwash - Colgate-Palmolive took a major stake in Austin biotech company Introgen Therapeutics (Nasdaq: INGN) as part of a new partnership to develop and potentially market oral health care products. The partnership will pursue the development of special formulations of Introgen's gene therapies targeted at oral cancer and precancerous conditions of the mouth. The company is already in early stages of human testing of a mouthwash containing a tumor-suppressor gene. Colgate-Palmolive will have priority regarding products that might be developed through the partnership. Introgen focuses on the discovery, development and commercialization of molecular therapies for the treatment of cancer and other diseases.

. . . Colon Cancer drug exceeds expectations - Abgenix (NasdaqNM: ABGX), and its partner Amgen, had expected Panitumumab, the colon cancer drug they were developing, to slow the progression of the disease by 33%. It did a lot better than that. It slowed the progression of the disease by 46% in patients receiving the drug compared to those who didn't in a 463-patient experiment. The drug is produced by mice genetically engineered with human genes to make molecules that help prevent the cancer from growing in patients. Standard & Poor's Equity Research analyst Frank DiLorenzo upgraded Abgenix to "buy" from "hold" after news of the study was released.

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