ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, July 4, 1996 TAG: 9607050061
SECTION: BUSINESS PAGE: B-7 EDITION: HOLIDAY
BLACKSBURG - PPL Therapeutics, a biotechnology company with research facilities in the Virginia Tech Corporate Research Center, has begun selling its stock to the public. Shares are being traded on the London Stock Exchange under the symbol PTH.L.
PPL, however, is not offering American Depository Receipts, which would let American investors buy shares in this country. There are such plans in the future, said Julian Cooper, PPL's general manager. For now, American investors would have to go through a British securities broker to buy the shares.
PPL Therapeutics, which has another research facility in Scotland, where the company was formed, specializes in breeding transgenic animals.
Milk from these animals, which have been injected with a human gene as embryos, contain proteins with medicinal values that eventually can be developed into products that can help people with a variety of ailments, including hemophilia, stroke and respiratory illnesses.
The company plans to test one of the proteins - alpha-1-antitrypsin - on human beings for the first time in a series of clinical trials this year.
Several transgenic pigs and mice have been born at PPL's Blacksburg research facility. Since October, three transgenic cows have been born, Cooper said.
company's Blacksburg offices employ 21 full-time and three part-time people. |- ELISSA MILENKY
New apartments
going up in Salem
KSI Services Inc. of Vienna said Wednesday it will build a $6 million apartment complex on 5.6 acres in Salem.
Jim Hodges of Hall Associates Inc., who brokered the land transaction, said KSI will create 98 units in the Salem Commons complex on Lynchburg Turnpike at Burchett Street. Richard W. Hausler, president of KSI, said construction is expected to cost about $5.9 million. The company paid $150,000 for the land.
KSI will receive federal tax credits as a benefit for the construction, but Hausler said the project is not subsidized housing.
Hausler described the project as a luxury complex with a swimming pool. Rents will range from $405 a month for a two-bedroom, 11/2-bath apartment monthly for a three-bedroom, two-bath unit. Most of the units will contain two bedrooms.
Clark Realty Capital, an affiliated of KSI, will be the contractor. KSI will manage the property.
Hausler said construction will start this summer, and the apartments will be ready for occupancy next year. |- Staff report
LENGTH: Medium: 57 linesby CNB