ALSO NOTED: BioMarin to raise $267M; FDA rejects King's Altace; and much more...

> BioMarin Pharmaceutical is selling $267 million in shares and notes. The Novata, CA-based biotech announced the move about a week ago, saying it would use the funds both to market existing therapies as well as research new ones in clinical trials. The offering comes fast on the heels of positive data for Phenoptin, a treatment for an ezyme-deficiency disorder. Report

> The FDA rejected King Pharmaceuticals' application to gain approval for its high blood pressure drug Altace for children. King says it will undertake a second clinical trial for the pediatric indication, primarily so it can extend its patent protection. Report

> The FDA has put an early human trial of Encysive's TBC3711 on hold after a rat in an animal study showed signs of abnormalities. Report

> CancerVax revealed Phase III data that showed the failure of Canvaxin to demonstrate efficacy. CancerVax discontinued its Phase III of Canvaxin last October. Report

> Sanofi-Aventis says that an EU committee has recommended Taxotere for advanced stomach cancer, a day after receiving the FDA's OK. Report

> The EMEA has again rejected Novartis' irritable bowel therapy Zelnorm. Report

> YM BioSciences has enlisted its first patient in a Phase I/II non-small-cell lung cancer trial utilizing YM's anti-EGFr monoclonal antibody, nimotuzumab (TheraCIM). Release

> ACADIA Pharmaceuticals reported positive results from its Phase II clinical trial of ACP-103 in patients with Parkinson's disease suffering from treatment-induced psychosis. Release

And Finally…Three groups of scientists have confirmed that severely diabetic mice were able to recover after researchers halted an immune reaction that causes the disease. The news offers hopes of a cure for patients with Type 1 diabetes. Article