Company News
Published Oct 12 2001
MGI Pharma Inc., Minnetonka, has expanded its Phase 2
ovarian cancer trial of irofulven as a result of anti-tumor
activity and a favorable response from every-other-week
dosage. The company said it expects to complete patient
enrollment for the expanded trial in 2002.
Check Technology Corp., Minnetonka, has named President
and CEO Jay Herman chairman.
I-Tech, Eden Prairie, a data storage testing products
company, said it has formed a relationship with Perseus Labs of
Georgetown, Texas.
Andersen Corp., Bayport, has purchased KML Windows Inc.,
a London, Ontario-based manufacturer of custom
architectural windows and doors. Terms were not disclosed.
KML has 250 employees.
Patty Morris Public Relations, Minneapolis, said AcuBead,
a Minneapolis developer and marketer of acupressure-based
pain relief and weight-suppression products, has hired the
agency to manage its public relations.
Navarre Corp., New Hope, said it received a three-year line
of credit for up to $30 million from General Electric
Company's GE Capital unit.
RSM McGladrey Inc., Minneapolis, has acquired the
non-attest assets of the Dallas accounting firm of Fisk &
Robinson. Terms were not disclosed.
Metris Companies Inc., Minnetonka, said its wholly owned
subsidiary, Metris Receivables Inc., through the Metris Master
Trust, will issue $500 million of three-year credit card
asset-backed securities. The securitization transaction features
two classes of publicly issued securities (Class A and Class B)
and one privately issued class (Class C).
Visionics Corp., Minnetonka, has completed a $20 million
private placement of common stock. Under terms of the
financing, Visionics sold about 1.8 million shares at $11.10 per
share.
The Merrifield division of Nortech Systems Inc., Wayzata, is
supplying printed circuit board assemblies to Systec Inc., New
Brighton, under terms of an agreement valued at $1.2 million
over 18 months.
Osmonics Inc., Minnetonka, has received a third order from
the city of Pascagoula, Miss., worth $1 million for water
purification systems.
Net4Music Inc., Minneapolis, has completed a private
placement of $1.5 million of its securities with new investors as
well as some current investors and employees. Proceeds from
the offering are intended for the launch of SmartMusic Studio
subscription services as well as for general operating purposes.
BGL Investment Partners, a Luxembourg-based investment
company owned principally by Banque Generale du
Luxembourg, is a new investor.
Navarre Corp., New Hope, has signed a distribution
agreement with EMI Music Canada under which EMI will
provide the sales and product fulfillment for Navarre's
proprietary music and video offerings while Navarre will
provide all marketing and promotional support.
Land O'Lakes Inc., Arden Hills, has completed its
acquisition of Purina Mills Inc. at the cash price of $23 per
share of Purina Mills stock. Purina Mills will become part of the
consolidated business operated by Land O'Lakes Farmland
Feed.
Communications Systems Inc., Hector, said its board of
directors has approved a continuation of the company's stock
repurchase plan that authorizes the company to repurchase up
to 250,000 shares of common stock. The company has operated
the program since 1986.
Plasmon Plc., a British data-storage business, has entered into
a nonexclusive agreement with Exabyte Corp. to purchase
design and manufacturing licenses for a range of
Exabyte-designed tape autoloaders. Plasmon will establish
manufacturing capabilities for the products at its Colorado
Springs facility and expects to begin production by year's end.
Plasmon's U.S. sales and marketing headquarters are in Eden
Prairie.
Active IQ Technologies Inc., Minneapolis, has acquired FMS
Marketing Inc., New Lenox, Ill., a provider of farm-based
accounting systems. Terms were not disclosed.
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