Abraxis Subsidiary Lands Army Deal

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A subsidiary of Abraxis BioScience Inc. said Monday that it had signed a three-year research and development agreement with U.S. Army Medical Research Institute of Chemical Defense.


Cenomed BioSciences LLC, based in Irvine, said the deal will focus on the company’s lead drug candidate, which is used to limit the effects of exposure to chemical warfare agents.


Financial terms of the deal were not disclosed.


Shares in Los Angeles-based Abraxis were up 2.7 percent, or 62 cents, to $23.57 in afternoon trading Monday on the Nasdaq.

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