In the Region Company gets OK to test hormone...

In the Region

Company gets OK to test hormone deficiency treatment

Human Genome Sciences Inc. said yesterday that the Food and Drug Administration has approved testing of its treatment for growth hormone deficiency in adults.

The Rockville company said it also is planning a future Phase I clinical trial of the protein drug, known as Albutropin, in children. Growth hormone deficiency, which the company said affects 70,000 adults and 20,000 to 27,000 children in the United States, can lead to decreased bone density and heart problems.

Albutropin is designed to last longer in the body than regular human growth hormone, potentially leading to fewer doses for patients.

InforMax board approves takeover `poison pill'

InforMax Inc. said yesterday that its board had adopted a "poison pill" designed to deter a hostile takeover, a move Chief Financial Officer John Green said the company thought prudent because of the low trading price of its shares.

Green said the move "is not in response to any specific overture from any entity" and noted that shares of the Bethesda developer of bioinformatics software had been trading close to $3 and closed yesterday at $7.70. The prospect of bioinformatics-company takeovers has been in the news since May, when Merck & Co. Inc. acquired Rosetta Inpharmatics Inc.

The InforMax shareholder rights plan could be triggered if another company announced its intention to acquire 15 percent or more of InforMax's outstanding shares. The plan would give each InforMax stockholder the right to purchase a certain number of shares at a 50 percent discount, diluting the ownership percentage of the acquiring company and making a takeover more difficult.

Constellation Energy wins Edison Award

Constellation Energy Group Inc. was given an Edison Award yesterday for "making the most outstanding contributions to the advancement of the industry" by becoming the first electric company in the country to renew a commercial operating license for a nuclear power plant.

Baltimore-based Constellation secured the license renewal last year for Calvert Cliffs Nuclear Power Plant, and created a subsidiary, Constellation Nuclear Services Inc., to market its license renewal expertise to other firms.

The award was announced at an annual conference in New Orleans held by Edison Electric Institute, an association of U.S. shareholder-owned electric companies, international affiliates and industry associates worldwide. Puget Sound Energy in Bellevue, Wash., and Kansai Electric in Osaka, Japan, also received the award.

Duratek gets contracts for Hanford cleanup plans

Duratek Inc. said yesterday that it signed two multimillion-dollar contracts to design and build cleanup systems for the Hanford Waste Treatment Plant in Richland, Wash., the Department of Energy's largest and most complex environmental cleanup project.

The contracts are with Bechtel National Inc., the prime contractor on the cleanup project. The Columbia company will develop a pilot radioactive waste processing facility as part of a multiyear contract worth $14.3 million in its first six months. Duratek also will offer design support for a full-scale waste processing system, as part of a multi-year contract worth $4.3 million in its first six months.

Erickson Retirement to build ninth facility

Erickson Retirement Communities, based in Catonsville, said yesterday that it will build its ninth senior campus in Novi, Mich., near Detroit.

Erickson, which developed Charlestown in Catonsville and Oak Crest in Parkville, plans to spend $350 million over five to seven years to develop Fox Run, a 1,500-unit community in Novi. It has another campus in the Detroit area, Henry Ford Village in Dearborn.

The eight campuses currently have about 8,000 residents, with construction continuing at some of them. In addition to featuring independent- living apartments, each campus will have assisted-living and skilled nursing units. The company is also looking for a location in the Philadelphia market, according to spokesman Mel Tansill.

Martek Biosciences' 2nd-quarter loss declines

Martek Biosciences Corp. reported that its second-quarter loss decreased from a year ago as sales of its flagship nutritional products, primarily oils used in baby formula, rose 172 percent.

The Columbia company reported a net loss of $3.2 million, or 17 cents a share, on revenue of more than $4 million. That compares to a loss of $4.1 million, or 24 cents a share, on revenue of $2.4 million in the year-ago quarter, when there were fewer shares outstanding.

Sales of the company's nutritional products rose to $3.14 million in the quarter from $1.15 million in the year-ago period.

Rosse & Associates closes after death of its owner

Rosse & Associates, a 15-year-old advertising, marketing and communications firm, whose owner died unexpectedly last month, has closed, according to a recorded message to telephone callers.