Xcyte Therapies Inc. of Seattle, which recently shut down its Bothell drug manufacturing lab, announced Thursday it will close after selling its assets in two different deals. The company sold its intellectual property to California’s Invitrogen Inc. for $5 million, plus possible future payments. It separately agreed to merge with Scotland’s Cyclacel Group, a private biotech firm. Xcyte’s local offices will close as a result.
Sonus stock climbs as Amgen increases
Sonus Pharmaceuticals of Bothell saw its stock rise by 8 percent Thursday, as shares of several small biotechnology firms spiked upward in the wake of Amgen’s decision to buy Abgenix for $2.2 billion. Amgen bought the small firm to secure rights to a promising antibody. Thursday’s rise of 38 cents a share put Sonus’ closing stock price at $5.14.
Cathay completes Boeing 777 order
The Boeing Co. and Cathay Pacific Airlines have signed a previously announced deal for 12 777-300ER jets. Under the agreement, the airline will take delivery of the planes between September 2007 and July 2010, and will have the option to buy up to 20 more planes. The 12 jets have a list price of $2.85 billion, although analysts say airlines have been receiving discounts of 25 percent or more. Boeing reported 806 net orders for the year as of Tuesday, not including 12 from Cathay Airlines or Wednesday’s 45-jet order from Qantas Airlines.
Ken Duberstein will lead Boeing’s board
The Boeing Co. board of directors has elected Ken Duberstein as be its lead director, replacing the late Lew Platt. The 61-year-old Duberstein is chairman of the Duberstein Group, a Washington, D.C., consulting firm, and a former chief of staff to President Ronald Reagan.
Airline named to shuttle 787 parts
Evergreen International Airlines of McMinnville, Ore., will operate the Boeing Co.’s fleet of three modified 747s that will fly 787 parts between Everett and Japan. Evergreen, in turn, has named Cargolux of Luxembourg and Sojitz Corp. of the United States as subcontractors.
Start-up claims Microsoft violations
Mobile e-mail start-up Visto Corp. has sued Microsoft Corp. for allegedly infringing on three of its patents related to how information is handled between servers and hand-held devices such as cell phones. The lawsuit, which seeks unspecified monetary damages and a permanent injunction, was filed Wednesday.
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