Celtrix Stake Increased By Genzyme

Celtrix Pharmaceuticals has exercised its option to receive an additional equity investment from Genzyme Corporation. This will increase Genzyme's stake in the firm to 19.9% from 11.3%. The value of the investment is estimated to be around $4.5 million.

Celtrix was recently granted three additional patents relating to its IGF-BP3 complex, SomatoKine. Patent details are as follows:

- US Patent number 5,407,913 on methods for systemic treatment of tissue injury in relation to enhancing healing in burn, trauma, and surgical patients;