UTAH BIOTECH COMPANY GETS $8 MILLION IN PRIVATE FUNDS
Biotechnology company Ventana Genetics Inc. announced Monday that it has raised $8 million in private financing to advance and augment its patented technology that identifies therapeutic targets for drug intervention.The company also announced it has changed its name to Arcaris Inc. Derived from the Latin term for "archer," the new name reflects the company's drive to find new targets to treat cancer, viral infection and metabolic disorders by identifying proteins in cells that are susceptible to drug intervention.
Financing was led by New York-based venture banking firm Warburg, Pincus L.P. The funds will allow the company to speed its drug discovery techniques and hopefully attract corporate partnerships, said M. Scott Salka, Arcaris chief executive officer.
US WEST CUTS MEGABIT COST AND OFFERS A PACKAGE DEAL
With Internet competition from cable in town, US WEST is lowering the cost of its year-old MegaBit Service and offering a package deal to Internet subscribers.
MegaBit is an ADSL always-on phone line capable of carrying high-speed Internet data and phone conversations at the same time. MegaBit Services has been priced at $40 per month. TCI rolled out its high-speed Internet service several weeks ago, offering monthly service, including cable modem lease, for $39.99.
On Tuesday, US WEST lowered the price of MegaBit Services to $29.99.
US WEST is also lowering the price for MegaPak, which combines 256 Kbps MegaBit access with unlimited Internet service from USWEST.net, from $60 to $47.90.
40,000 GAS GRILLS FACE RECALL BECAUSE OF FIRE HAZARD
WASHINGTON (AP) -- About 40,000 gas grills sold through Kmart stores are being recalled because of a fire hazard, the U.S. Consumer Product Safety Commission said Tuesday.
The burner manifold connection of the "Tru-Burn" LP portable grills may separate during use and spread flames outside the grill. The commission said at least one fire was caused by the faulty manifold connection but caused no injuries.
Kmart sold the Tru-Burn grills from February 1996 through August 1998 for about $22. Each grill has a black porcelain paint finish with two chrome-plated wire legs. When assembled, it stands 12 inches high and 18 inches long and has rectangular handles attached to each end of the grill's body and a third attached to the lid.
People should stop using the grills immediately and return them to Kmart stores for a refund, the Consumer Product Safety Commission said. Additional information is available at 1-800-63-Kmart.