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Alliance to Get Blood-Substitute Payment

CALIFORNIA | BIOTECHNOLOGY | THE STATE

December 05, 1996|Times Staff and Wire Reports

Alliance Pharmaceutical Corp. said two Johnson & Johnson affiliates will pay the company a milestone payment of $15 million. The San Diego-based company's shares rose $2 to close at $13.875 on Nasdaq. Ortho Biotech and the R.W. Johnson Pharmaceutical Research Institute decided to make the payment now after reviewing preliminary results of studies conducted with Alliance's blood substitute.

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