BioMarin terminates Neutralase

BioMarin (BMRN; SWX:BMRN) terminated development of its Neutralase after an independent DSMB indicated that the injectable heparinase would not demonstrate favorable safety and efficacy in a Phase IIIa trial to reverse anticoagulation by heparin in primary coronary artery bypass graft ( CABG) surgery. BMRN acquired Neutralase from Ibex (TSE:IBT) in 2001, when it paid $8.5 million in stock and $2 million in cash for all of IBT's pharmaceutical compounds. ...