Pharmaceutical Firms Plan Joint Venture

Hygenics Pharmaceuticals Inc. and Iowa City-based Biocontrol Inc., both fledgling biomedical firms, plan to form a joint venture to develop long-lasting antiseptics for medical and other uses. The companies intend to come up with products that will use Biocontrol’s drug-delivery system to prolong the life of antiseptics that Hygenics makes. The companies hope to raise $10 million to $20 million from private investors to launch the venture in February.