ALSO NOTED: MonoSol Rx sets IPO; Entelos buys Iconix; and much more...

> MonoSol Rx has set the terms on an IPO of four million shares. The offering is expected to raise up to $70 million if its hits its range of $16 to $18 a share. Report

> Entelos has inked a deal valued at $14.1 million to buy Iconix Biosciences, a predictive toxicology company, in an all-share transaction. "By combining our powerful approaches to better understand efficacy, safety, and new drug uses, the expanded company will be well positioned to take advantage of the synergies and achieve greater commercial success," said Iconix CEO Jim Neal. Release

> Eli Lilly Japan and Takeda Pharmaceutical have axed a deal for the joint development and co-marketing of ruboxistaurin mesylate in Japan after deciding that the diabetes therapy didn't qualify for a Phase III trial. Release

> Sweden's Karo Bio has provided an update on its pipeline programs. Release

> Vermillion--a diagnostic test maker--has closed a private placement for $20 million. Report

> CytoGenix has broken ground on a 20,000 square foot facility to house its offices, laboratory and DNA production plant. Release

> The NIH's new asthma treatment guidelines could be good news for drug companies. FiercePharma

> Four women are suing Sanofi-Aventis for sex discrimination in U.S. federal court. FiercePharma

> Researchers from Geron and the University of Washington have completed new animal studies that offer fresh evidence of the ability of embryonic stem cells to repair the damage done by a heart attack. FierceBioResearcher

And Finally… Dunkin' Donuts says it is eliminating trans fats from its food after developing an alternative cooking oil. Somebody pass me a donut. Report (WSJ sub. req.)