BRITISH BIO-TECH LOSS GROWS

British Bio-technology has posted a loss of L 4.6 million ($6.8 million) in the second quarter ended October 31, 1993, compared with a loss a year earlier of L 1.8 million. This was said to be in line with company expectations, and was attributed to a planned rise in operating expense related to the increased clinical trial program and the reduction in interest income.

Turnover in the second quarter declined 236% to L 693 million. The decline was a direct result of the disposal in July by the company of British Bio-technology Products, now known as R&D Systems Europe. R&D income mainly represents the continuing Eureka grant in respect of the AIDS program, but also includes the first payment from research collaboration with RDSE.

Batimastat Trials The company said that good progress was made in the quarter regarding R&D. British Approved Names have been granted to some of the company's drugs. A second Phase I/II clinical study of the injectable form of batimastat, formerly known as BB-94, began in Oxford, in the UK, in patients with malignant pleural effusion, a late-stage complication of tumors of the lung. Results from the current malignant ascites trial of injectable batimastat should be available in the first quarter of 1994. If positive, BB will start European trials of batimastat in around 200 patients. Trials in the USA will also get underway in 1994.