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Safeguard Scientifics to Recognize an Unrealized Gain of Approximately $120 Million upon Deconsolidation of Its Ownership in Clarient
4:34 PM ET 5/26/09 | BusinessWire
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4:00 PM ET 5/26/09
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Safeguard Scientifics, Inc. (NYSE:SFE), a holding company that builds value in growth-stage life sciences and technology companies, today announced that it expects to recognize an unrealized gain in income from continuing operations of approximately $120 million stemming from a deconsolidation of its holdings in Clarient, Inc. (Nasdaq: CLRT).
The gain and corresponding increase in shareholders' equity will be recognized in the current quarter ending June 30, 2009. The deconsolidation is the result of Clarient's recently completed private placement with Oak Investment Partners. The private placement in Clarient reduced Safeguard's ownership position to approximately 47% from approximately 50% at March 31, 2009. There is no cash flow impact from the deconsolidation.
"Safeguard and Clarient have significantly benefited from the transaction between Clarient and Oak," said Peter J. Boni, President and Chief Executive Officer of Safeguard Scientifics. "We not only strengthened our balance sheet and financial flexibility, but the value of Safeguard's ongoing stake in Clarient can now be more readily understood by the investment community."
The entire amount of the gain relates to the remeasurement to fair value of Safeguard's retained interest in Clarient as of May 14, 2009. Safeguard has elected to apply the fair-value option to account for its retained interest in Clarient. Therefore, unrealized gains and losses on the mark-to-market of its holdings in Clarient will be recognized in income from continuing operations in subsequent periods. Before the deconsolidation, the Clarient stake was accounted for on Safeguard's balance sheet at its carrying value of approximately $21 million.
At March 31, 2009, the market value of Safeguard's position was approximately $105 million, and today stands at $123 million, compared with $76 million at year-end 2008.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE) provides growth capital for entrepreneurial and innovative life sciences and technology companies. Safeguard targets life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices, Regenerative Medicine and Specialty Pharmaceuticals, and technology companies in Internet / New Media, Financial Services IT and Healthcare IT with capital requirements of up to $25 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. www.safeguard.com
Forward-looking Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. These forward-looking statements that could cause actual results to differ materially, include, among others, managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, the ability to execute our strategy, the uncertainty of the future performance of our companies, acquisitions and dispositions of companies, the inability to manage growth, compliance with government regulations and legal liabilities, additional financing requirements, the effect of economic conditions in the business sectors in which our companies operate, and other uncertainties described in the Company's filings with the Securities and Exchange Commission. Many of these factors are beyond our ability to predict or control. In addition, as a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this press release.
SOURCE: Safeguard Scientifics, Inc.
Safeguard Scientifics, Inc.
John E. Shave
Vice President, Business Development and Corporate Communications
T: 610.293.0600
F: 610.672.9521
May 12, 2009 (Close-Up Media via COMTEX) -- Safeguard Scientifics, a holding
company for science and technology companies, announced that consolidated
revenue for the three months ended March 31, increased 41 percent year-over-year
to $22.4 million, excluding discontinued operations.
In a release on May 7, the company noted that Safeguard's consolidated net loss
from continuing operations attributable to common shareholders in the quarter
was $10.3 million, or $0.08 per share, compared with a loss of $11.8 million, or
$0.10 per share, for the same period of 2008.
"Safeguard continues to focus on its long-term objectives of increasing
shareholder value by building value in our partner companies and realizing that
value through well-timed exits," said Peter J. Boni, President and CEO of
Safeguard Scientifics. "Our life sciences partner companies grew slightly faster
than we expected, whereas growth for the technology partner companies was slower
largely due to the weakened U.S. economy. Taking these factors into account and
given today's challenging business climate, we have assumed that no exits will
occur during 2009, although a few opportunities may develop later in the year.
We remain flexible, adjusting our prospects as external conditions warrant."
Stephen T. Zarrilli, Safeguard Senior Vice President and Chief Financial Officer
said, "Safeguard's financial strategies for 2009 remain focused on the strength
of our balance sheet and the prudent use of cash. We continue to evaluate and
pursue opportunities in the following four areas: reduce parent company
operating expenses where possible; opportunistic repurchase of our senior
convertible debentures at a discount; manage cash deployments conservatively;
and augment existing capital with alternative pools of capital."
Safeguard noted that it reiterates prior expectations for total aggregate
revenue of its partner companies to be between $200 million and $220 million for
2009. For the life sciences partner companies, aggregate revenue is expected to
be between $145 million and $155 million, excluding pre-revenue companies Avid
Radiopharmaceuticals, Garnet BioTherapeutics, NuPathe and Tengion as they do not
impact aggregate revenue expectations. For the technology group, aggregate
revenue is expected to be between $55 million to $65 million, excluding Genband.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
News for 'SFE' - (*DJ Safeguard Scientifics Backs 2009 Rev $200M-$220M >SFE)
News for 'SFE' - (*DJ Safeguard Sci Sees 2009 Life Sciences Partners Aggregate
Rev $145M-$155M)
(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)
BULK NEWS OUT.. REVENUES!!!!!!!!!!!!!!!!!!!!
REAL
GREEN MOUNTAIN! weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
very sweet might just get a 13/50 cross... weeeeeeeeee
I hope this one paid off for you, Great show of Faith.
How much room do you think this one has to run.
News for 'SFE' - (*DJ Safeguard Scientifics Delays 10-K >SFE)
Lots of news has coming out for this one... way too much to just post you got to read threw it on your own folks.
real
News for 'SFE' - (Garnet Biotherapeutics raises $10.4 million in financing)
Feb 04, 2009 (Datamonitor via COMTEX) -- Garnet Biotherapeutics, a regenerative
medicine company, has closed a $10.4 million round led by SCP Vitalife Partners
II.
Garnet will use the proceeds to fund Phase II clinical trials of its proprietary
human adult bone marrow-derived cells, as well as manufacturing and development.
Safeguard Scientifics and Alliance Technology Ventures also participated in the
financing.
Gerri Henwood, CEO of Garnet Biotherapeutics, said: "This agreement provides us
with financial resources to realize the potential of our cell-based therapy
platform through a clear and defined clinical strategy. We view the
participation of these stellar investors as a vote of confidence in the value of
our technology and the commercial prospects of our product portfolio."
With this investment, Wayne Weisman, managing director of SCP Vitalife Partners,
along with Gary Kurtzman, vice president and managing director in Safeguard's
Life Sciences Group and Jim O'Connell, senior associate and Kauffman Fellow in
Safeguard's Life Sciences Group will join Ms Henwood on Garnet Biotherapeutics's
board of directors.
News for 'SFE' - (Clarient Extends Maturities of $20 Million in Existing Credit
Facilities)
ALISO VIEJO, Calif., Feb 02, 2009 (BUSINESS WIRE) -- Clarient, Inc. (Nasdaq:
CLRT), a premier anatomic pathology and molecular testing services resource for
pathologists, oncologists and the pharmaceutical industry, today announced that
it has extended the maturities of $19.25 million in existing credit facilities
with Gemino Healthcare Finance LLC and Comerica Bank, as part of its initiative
to refinance all of its credit facilities. Interest rates on Clarient's extended
Gemino and Comerica credit facilities, which are used for working capital
purposes, remain unchanged.
Clarient, which reported 17 consecutive quarters of sequential revenue growth
for the period ended September 30, 2008, extended an $8 million revolving credit
facility with Philadelphia-based Gemino to February 27, 2009. Borrowings under
the arrangement, which stood at $5.4 million at September 30, 2008, were due
January 31, 2009 and are secured by Clarient's accounts receivable.
Comerica Bank continues to provide Clarient with a $9 million credit facility
and $2.25 million line of credit. Clarient has borrowed $9 million under the
agreement, which now matures March 31, 2009. The Comerica agreement requires
maintenance of certain minimum levels of adjusted earnings before interest,
taxes, depreciation and amortization, and was due February 26, 2009 under terms
of previous extensions. Safeguard Scientifics, Inc., which owned 58% of Clarient
common stock at September 30, 2008, has guaranteed Clarient's Comerica
borrowings.
Clarient's CEO, Ron Andrews, commented, "Gaining this extension allows us to
align our debt expiration with our plan for capitalization. We have very strong
relationships with our investors and debt holders, and this extension is
indicative of their belief in the future of our company. Despite the current
market turmoil, Clarient believes that it is in a solid position to complete
longer term financing within the extension period."
About Clarient
Clarient combines innovative technologies with world-class expertise to assess
and characterize cancer. Clarient's mission is to provide the services,
resources and critical information to improve the quality and reduce the cost of
patient care as well as accelerating the drug development process. The Company's
principal customers include pathologists, oncologists, hospitals and
biopharmaceutical companies. The rise of individualized medicine as the new
direction in oncology has created the need for a centralized resource providing
leading diagnostic technologies such as flow cytometry and molecular testing.
Clarient is that resource, having created a state-of-the-art commercial cancer
laboratory providing the most advanced oncology testing and drug development
services available both onsite and over the web. Clarient is a Safeguard
Scientifics partner company. www.clarientinc.com
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE)
provides growth capital for entrepreneurial and innovative technology and life
sciences companies. Safeguard targets technology companies in Software as a
Service (SaaS) / Internet-based Businesses, Technology-Enabled Services and
Vertical Software Solutions, and life sciences companies in Molecular and
Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with
capital requirements between $5 million and $50 million. Safeguard participates
in expansion financings, corporate spin-outs, management buyouts,
recapitalizations, industry consolidations and early-stage financings.
www.safeguard.com
Forward-Looking Statements
The statements herein regarding Clarient, Inc. (the "Company") contain
forward-looking statements that involve risks and uncertainty. Future events and
the Company's actual results could differ materially from the results reflected
in these forward-looking statements. Factors that might cause such a difference
include, but are not limited to: the Company's ability to market and fund
continued development of this new genomics-based diagnostic test for prostate
cancer, the Company's ability to obtain third-party payer reimbursement for this
test, the efficacy of the test once introduced in the marketplace and the
acceptance of this test by physicians and patients, failure to obtain any
requisite regulatory clearances or approvals, the Company's ability to compete
with other technologies and with emerging competitors in novel cancer
diagnostics, dependence on third parties for collaboration in developing new
tests, the Company's ability to obtain additional or replacement financing on
terms acceptable to the Company, and risks detailed from time to time in the
Company's SEC reports, including quarterly reports on Form 10-Q, reports on Form
8-K and annual reports on Form 10-K. Recent experience with respect to
laboratory services, revenues and results of operations may not be indicative of
future results for the reasons set forth above.
The Company does not assume any obligation to update any forward-looking
statements or other information contained in this document.
SOURCE: Clarient, Inc.
CONTACT:
Clarient, Inc.
Leslie Angel, 949-425-5821
langel@clarientinc.com
WAYNE, Pa., Jan 29, 2009 (BUSINESS WIRE) -- Safeguard Scientifics, Inc.
(NYSE:SFE) today announced its participation in a $10.4 million financing round
for Garnet Biotherapeutics, a clinical stage regenerative medicine company
targeting the acceleration of healing and reduced scarring associated with
surgical procedures and other dermatologic conditions. Garnet Biotherapeutics
will use the financing to support research and Phase II clinical trials for its
proprietary human adult bone marrow-derived cells, along with manufacturing and
development.
In addition to Safeguard Scientifics, other investors include Alliance
Technology Ventures and SCP Vitalife Partners, which led the round.
"Safeguard Scientifics invests in companies that have differentiated products,
strong management and a solid trajectory towards commercialization," says Peter
J. Boni, President and CEO of Safeguard. "Garnet Biotherapeutics reflects one of
Safeguard's strategic objectives to partner with growth-stage life sciences
companies developing regenerative and personalized medical technologies that
serve significant unmet medical needs. We continue to identify exciting
partnering opportunities and welcome Garnet Biotherapeutics to the Safeguard
team."
Garnet Biotherapeutics has identified a distinct population of bone marrow
derived cells capable of reducing inflammation and promoting healing. In
addition, the company has developed proprietary scalable cell expansion
technology that can generate a large number of patient doses from a single
source. The company is initially developing its cell-based therapy for cosmetic
and dermatologic applications where accelerated healing and reduced scarring are
desirable. Cosmetic applications - such as liposuction, breast augmentation,
abdominoplasty and facelifts - represent an addressable market opportunity of
more than $1 billion worldwide. Plastic surgeons often cite scarring as a top
patient concern in cosmetic surgical procedures. Garnet Biotherapeutics believes
that the cell-based therapy may also be applicable in burns, auto-immune
disorders such as psoriasis, and in other conditions where inflammation or scar
formation plays an important role in disease pathology.
"Our investment in Garnet Biotherapeutics comes on the heels of Safeguard's
partnership with two leaders in regenerative medicine - Advanced BioHealing,
focused on cell-based and tissue-engineered FDA-approved products, such as
Dermagraft(R) for the treatment of diabetic foot ulcers; and Tengion, a clinical
stage regenerative medicine company focused on the development of neo-organs and
neo-tissues, such as Neo-Bladder Augment," comments Gary J. Kurtzman, MD, Vice
President and Managing Director in Safeguard's Life Sciences Group. "We feel
that these three strong companies represent Safeguard's commitment to leadership
and diversification in a field which is already yielding the next generation of
significant and differentiated medical products."
"Safeguard has a track record of successful partnerships within life sciences,
and the necessary expertise to further the development of emerging regenerative
medicine technologies," says Gerri Henwood, CEO of Garnet Biotherapeutics.
"Safeguard's unique focus positions Garnet Biotherapeutics on a solid trajectory
towards commercialization. We welcome our new investors to our team and look
forward to Phase II clinical trial results with their support."
With this investment, Dr. Kurtzman, Jim P. O'Connell, Senior Associate and
Kauffman Fellow in Safeguard's Life Sciences Group and Wayne B. Weisman, a
Partner at SCP Vitalife Partners, will join Gerri Henwood on Garnet
Biotherapeutics' Board of Directors.
ABOUT GARNET BIOTHERAPEUTICS
Garnet Biotherapeutics is a clinical stage regenerative medicine company based
in Malvern, PA. The company has identified a distinct population of bone marrow
derived cells and developed proprietary technology to expand these cells for use
in applications requiring large number of patient doses. When used topically on
the skin or administered internally, these cells release anti-inflammatory and
pro-healing factors that accelerate healing and reduce scarring. The company is
currently targeting dermatology applications, with plans to expand into other
cosmetic procedures as well as looking at ways to advance the technology for use
in orthopedic and cardiovascular surgical procedures, burn treatment, chronic
would healing and auto-immune disorders.
ABOUT SAFEGUARD SCIENTIFICS
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE)
provides growth capital for entrepreneurial and innovative technology and life
sciences companies. Safeguard targets technology companies in Software as a
Service (SaaS) / Internet-based Businesses, Technology-Enabled Services and
Vertical Software Solutions, and life sciences companies in Molecular and
Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with
capital requirements between $5 and $50 million. Safeguard participates in
expansion financings, corporate spin-outs, management buyouts,
recapitalizations, industry consolidations and early-stage financings. For
additional information and updates about Safeguard Scientifics, please visit
www.safeguard.com.
Forward-Looking Statements
Except for the historical information and discussions contained herein,
statements contained in this release may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Our
forward-looking statements are subject to risks and uncertainties. Risks and
uncertainties that could cause actual results to differ materially, include,
among others, managing rapidly changing technologies, limited access to capital,
competition, the ability to attract and retain qualified employees, the ability
to execute our strategy, the uncertainty of the future performance of our
companies, acquisitions and dispositions of companies, the inability to manage
growth, compliance with government regulations and legal liabilities, additional
financing requirements, the effect of economic conditions in the business
sectors in which our companies operate, and other uncertainties described in the
Company's filings with the Securities and Exchange Commission. Many of these
factors are beyond our ability to predict or control. In addition, as a result
of these and other factors, our past financial performance should not be relied
on as an indication of future performance. The Company does not assume any
obligation to update any forward-looking statements or other information
contained in this press release.
SOURCE: Safeguard Scientifics, Inc.
CONTACT:
For Safeguard Scientifics
Theresa Murray, Gregory FCA
(office) 610-642-8253
(cell) 732-278-4473
Theresa@GregoryFCA.com
News for 'SFE' - (Beyond.com Offers Free Job Postings to Employers to Help
Stimulate Business Growth Extraordinarily qualified candidate base creates
unique hiring opportunity for employers)
PHILADELPHIA, Jan 14, 2009 (BUSINESS WIRE) -- Beyond.com, Inc., the world's
largest network of niche career communities, announced today that it is offering
one free job posting to each employer across the nation through February 28,
2009 in an effort to promote business growth and help stimulate the economy in
the New Year.
As a result of the weakened U.S. economy and high unemployment rate, the number
of qualified candidates available in the job market has increased dramatically,
creating unique hiring opportunities for employers. In December 2008, the Bureau
of Labor Statistics announced that the national unemployment rate has hit a
record high of 7.2 percent and nearly 2.6 million people have lost their jobs
over the past year. The economic recession has created one of the most talented
pools of candidates in years, consisting of a greater number of highly educated
and experienced professionals than typically available under normal economic
conditions.
Beyond.com's free job posting offer allows employers to take advantage of the
opportunity to attract high quality talent and add depth to their employee base
by leveraging the power of targeted, niche recruitment. Employers can reduce one
component of hiring costs and engage with seasoned talent who will position
their company for future growth. The ultimate goal is to foster new
opportunities and revitalize the economy in 2009.
"In tough economic times, it's not all about downsizing," said Rich Milgram, CEO
of Beyond.com. "Businesses should take a close look at all aspects of their
business and take advantage of opportunities that present themselves and provide
for long-term gains. By offering a free job posting, we are making it easier for
employers to find and acquire quality talent, build a stronger business and play
a vital role in stimulating the economy."
Beyond.com offers a one-of-a-kind recruitment solution to employers. By posting
a position to Beyond.com, employers can instantly reach millions of candidates
across thousands of relevant sites within the Beyond.com network. From
Philadelphia to Seattle, and Finance to Technology, Beyond.com has a niche job
site that can meet even the most demanding recruitment needs.
For more information on Beyond.com's free job posting offer, please visit
http://www.Beyond.com/freejobposting.
About Beyond.com, Inc.
Beyond.com is the world's largest network of niche career communities, providing
access to thousands of top-tier industry and local web sites. Our career search
services and networking tools enable job seekers and employers to create
targeted connections across thousands of online communities. We deliver a
one-of-a-kind recruitment solution that provides the targeted exposure of a
specialized job board, reinforced by the breadth and volume of a larger career
network. Beyond.com was named to Inc. Magazine's prestigious 'Inc. 500' list and
is a Safeguard Scientifics, Inc. (NYSE:SFE) partner company. www.Beyond.com. For
employment related statistics, visit www.Beyond.com/Media or our recruitment
blog at www.EmploymentMetrix.com.
SOURCE: Beyond.com, Inc.
CONTACT:
Tara Berger
Marketing & Communications Associate
Beyond.com, Inc.
610-878-2800
TaraB@Beyond.com
or
Jeffrey Dillow
Account Manager
PAN Communications
978-474-1900
Beyond@Pancomm.com
News for ' SFE ' - (Portico Systems Named to the Philadelphia 100 List Rapid
Adoption by Health Plans Fuels Six Years of Recognition)
PHILADELPHIA, Oct 23, 2008 (BUSINESS WIRE) -- Portico Systems, the leader in
Integrated Provider Management (IPM) solutions, announced today that it has been
named to the 2008 Philadelphia 100(R) list of the fastest growing, privately
held companies in the Philadelphia region. The company's 2008 rank is number 25
and this is its sixth year on the list.
Portico Systems' IPM solutions have been rapidly adopted by US health plans
looking to reduce medical, administrative and IT costs while significantly
improving provider relationships.
"It is an honor to be recognized by the Philadelphia 100," stated Ned Moore,
CEO, Co-Founder and Director, Portico Systems. "We attribute our success to the
focus we place on helping customers solve their problems, our deep domain
expertise, and the dedication of the entire Portico team."
The Philadelphia 100 is an annual program conducted by the Entrepreneurs' Forum
of Greater Philadelphia, Philadelphia Business Journal and Wharton Small
Business Development Center. This year's 20th anniversary event was held on
October 22, 2008 at the Sheraton Philadelphia City Center Hotel.
About Portico Systems
Portico Systems' innovative solutions enable health plans to reduce
administrative, medical and IT costs. Portico's exclusive focus on provider
operations and 500+ staff-years of provider experience has allowed Portico to
design the only modular end-to-end provider platform. Portico invites you to
explore our website (www.porticosys.com) to learn how our commitment to customer
service, quality and technology innovation can accelerate the evolution of your
health plan's provider operations. Portico Systems is a partner company of
Safeguard Scientifics, Inc. (NYSE:SFE) www.safeguard.com.
SOURCE: Portico Systems
News for 'SFE' - (Clarient Enters into Training and Consulting Agreement with
University of Pennsylvania School of Medicine)
ALISO VIEJO, Calif., Sep 29, 2008 (BUSINESS WIRE) -- Clarient, Inc.
(NASDAQ:CLRT), a premier anatomic pathology and molecular testing services
resource for pathologists, oncologists and the pharmaceutical industry,
announced today that it has entered into an agreement with the University of
Pennsylvania School of Medicine's Flow Cytometry and Cell Sorting Resource
Laboratory (Flow Cytometry Lab) for a multilevel educational and technical
training program. This innovative program is intended to provide the technical
and professional staff at Clarient with the necessary skills to provide superior
clinical service using both standard and non-standard assays.
"We are delighted to enter into this revolutionary and invaluable educational
collaboration with the Flow Cytometry Lab at UPenn," commented Michael Pellini,
M.D., President and Chief Operating Officer of Clarient. "Their expertise will
enable Clarient's team to stay at the forefront of flow cytometry technology and
practices. Based in one of the nation's premiere pathology and laboratory
medicine departments, the Flow Cytometry Lab will help Clarient bring the
highest level of clinical services to our clients."
The agreement offers quarterly on-site training by Flow Cytometry Lab personnel,
which will include evaluating current procedures and education in specific
routine processes, guidelines for clinical evaluation of hematologic
malignancies, quality control and quality assurance procedures, and the
development of programs to assure compliance with the State of California and
the College of American Pathologists educational and professional requirements.
In addition, Flow Cytometry Lab professionals will provide on demand consulting
and technical guidance regarding equipment and educational and process issues,
and will host an annual seminar on current technological topics of interest.
The University of Pennsylvania School of Medicine's Pathology Department, which
includes The Flow Cytometry and Cell Sorting Resource Laboratory, ranks first in
funding from the National Institutes of Health for pathology-related grants, and
is considered one of the leading academic departments of pathology in the U.S.
About Clarient
Clarient combines innovative technologies with world-class expertise to assess
and characterize cancer. Clarient's mission is to provide the services,
resources and critical information to improve the quality and reduce the cost of
patient care, and accelerate the drug development process. The Company's
principal customers include pathologists, oncologists, hospitals and
biopharmaceutical companies. The rise of individualized medicine as the new
direction in oncology has created the need for a centralized resource providing
leading diagnostic technologies such as flow cytometry and molecular testing.
Clarient is that resource, having created a state-of-the-art commercial cancer
laboratory providing the most advanced oncology testing and drug development
services available both onsite and over the web. Clarient is a Safeguard
Scientifics partner company. www.clarientinc.com.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, Penn., Safeguard Scientifics, Inc.
(NYSE:SFE) provides growth capital for entrepreneurial and innovative technology
and life sciences companies. Safeguard targets technology companies in Software
as a Service (SaaS) / Internet-based Businesses, Technology-Enabled Services and
Vertical Software Solutions, and life sciences companies in Molecular and
Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with
capital requirements between $5 million and $50 million. Safeguard participates
in expansion financings, corporate spin-outs, management buyouts,
recapitalizations, industry consolidations and early-stage financings.
www.safeguard.com.
News for 'SFE' - (Safeguard Scientifics Leads $3.35 Million Series C Financing
for Swaptree.com Next Generation e-Commerce Company Continues to Grow 25% a
Month Enabling Users to Swap Books, CDs, DVDs, and Video Games for Free)
WAYNE, Pa., Sep 23, 2008 (BUSINESS WIRE) -- Safeguard Scientifics, Inc.
(NYSE:SFE) led a $3.35 million Series C financing round for Swaptree.com, an
internet-based service that leverages a proprietary trading technology to enable
users to swap books, CDs, DVDs and video games for free. Based in Boston, MA,
Swaptree.com will use the proceeds of the financing round for continued
technological and operational development, marketing support and senior
management recruitment.
"Swaptree has built a defensible technology platform that enables multi-way
trading, and is well positioned to tap into the millions of users who purchase
items such as books, CDs, DVDs and video games online," said Peter J. Boni,
President and CEO of Safeguard. "Our partnership with Swaptree aligns with
Safeguard's core competency of financing on-demand, Internet-based businesses.
Our technology group will be an invaluable resource for Swaptree as it develops
its swapping community, and introduces new services that make it easier for
consumers to trade and interact on the Internet."
With over 100,000 trades completed since its public launch in July 2007, the
Swaptree.com website allows consumers to obtain items in a way that is
cost-effective, friendly to the environment, and rooted in the basic notion of
sharing. Unlike auction sites, classified ad services, or other e-commerce sites
which sell used items, Swaptree.com is completely free, and doesn't involve
buying or selling. After signing up for the service, consumers simply add items
they would like to trade to their "have list", and put items they would like to
receive on their "want list." Swaptree's trading engine then instantly shows the
user all the items they can receive in return for the items they are trading.
The only expense members incur is the cost of shipping, for which labels can be
purchased and printed directly from the Swaptree website.
"Swapping is the next logical step in Internet commerce," says Erik B.
Rasmussen, Vice President and Managing Director in the Technology Group at
Safeguard Scientifics. "First there was e-commerce, then online auctions, and
then online classifieds for buying and selling used items. Now we're seeing
demand for trading online, driven in no small part by an economy where consumers
are spending less, searching for great deals, and wanting to be more
environmentally friendly. Swapping is the perfect solution. We are excited by
Swaptree's significant traction with users and the media, and believe that the
company is well positioned to exploit this growing trend and to become the
dominant player in this space."
Swaptree trades are cost-effective because they save consumers from having to
purchase new books, movies, music and games at escalating prices. In addition,
Swaptree helps its users to be more environmentally conscious because they
reduce landfill growth from consumers throwing away unwanted goods. By the end
of the year, Swaptree will have a million items listed for trade, making it easy
for users to use the website to discover new authors, musicians, films, and
games for free. The Swaptree website has many of the features users have come to
expect from other community sites, including discussion forums; the ability to
create smaller trading groups around certain interests or types of items; and
tools for integrating Swaptree with other e-commerce sites such as Amazon.com
and social networks such as Facebook and MySpace.
"Our decision to partner with Safeguard Scientifics was based on their proven
track record in growing successful technology companies," says Greg Boesel,
President and co-founder of Swaptree. "In this financing round, we were looking
for a partner with extensive experience in the online space to help us develop
our application platform and support our business strategy. Safeguard provides
us with all of the tools -- including strategic guidance, operational support
and management resources -- that will enable us to meet our goals and create
value for our members."
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE:SFE)
provides growth capital for entrepreneurial and innovative technology and life
sciences companies. Safeguard targets technology companies in Software as a
Service (SaaS) / Internet-based Businesses, Technology-Enabled Services and
Vertical Software Solutions, and life sciences companies in Molecular and
Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with
capital requirements between $5 million and $50 million. Safeguard participates
in expansion financings, corporate spin-outs, management buyouts,
recapitalizations, industry consolidations and early-stage financings.
www.safeguard.com
About Swaptree.com
Swaptree.com is a new and innovative way for people to easily trade books, CDs,
DVDs and video games for free with other users. With Swaptree, users can choose
from thousands of books, CDs, DVDs and video games that they can receive in
trade for items which they no longer want. The transaction itself is free. The
user only pays for the postage necessary to send their item. Swaptree was
founded in 2004 by Greg Boesel and Mark Hexamer and is based in Boston, MA.
www.swaptree.com
Forward-Looking Statements
Except for the historical information and discussions contained herein,
statements contained in this release may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Our
forward-looking statements are subject to risks and uncertainties. Risks and
uncertainties that could cause actual results to differ materially, include,
among others, managing rapidly changing technologies, limited access to capital,
competition, the ability to attract and retain qualified employees, the ability
to execute our strategy, the uncertainty of the future performance of our
companies, acquisitions and dispositions of companies, the inability to manage
growth, compliance with government regulations and legal liabilities, additional
financing requirements, the effect of economic conditions in the business
sectors in which our companies operate, and other uncertainties described in the
Company's filings with the Securities and Exchange Commission. Many of these
factors are beyond our ability to predict or control. In addition, as a result
of these and other factors, our past financial performance should not be relied
on as an indication of future performance. The Company does not assume any
obligation to update any forward-looking statements or other information
contained in this press release.
News for 'SFE' - (*DJ Safeguard Scientifics Repurchases $38 M Of Convertible
Senior Debentures At Discount)
(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)
September 22, 2008 16:05 ET (20:05 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.- - 04 05 PM EDT 09-22-08
Source: DJ Broad Tape
News for 'SFE' - (*DJ Safeguard Scientifics 2Q Loss/Shr 7c >SFE)
News for 'SFE' - (*DJ Safeguard Scientifics 2Q Rev $16.9M >SFE)
News for 'SFE' - (*DJ Safeguard Scientifics 2Q Loss $8.43M >SFE)
News for 'SFE' - (*DJ Clarient Raises FY08 Rev Growth Guidance To 45%-55% >CLRT)
News for 'SFE' - (Excerpts of Video Interviews from the Nortia Capital Partners
Equities Conference Available for Viewing on NEXTinvestor.com)
NEW YORK, July 31, 2008 /PRNewswire via COMTEX/ -- NEXTinvestor.com announced
today that the CEOs and leaders of 5 companies were interviewed at the Nortia
Capital Equities Conference in Atlantic City, NJ on July 14-15, 2008. The
companies delivered presentations at Bally's Hotel and Casino during a three-day
conference, and executives were interviewed separately on video. The video
interviews are presented on www.nextinvestor.com.
Interview highlights include Tootie Pie Company (OTC Bulletin Board: TOOT -
News), retail and wholesale distributor of dessert pies; Wound Management
Technologies (OTC Bulletin Board: WNDM - News), distributor of collagen-based
FDA cleared wound care products to healthcare providers; Safeguard Scientifics,
Inc. (NYSE: SFE - News), a public investment firm engaged in the technology and
life sciences sectors; Liberty Exploration & Production, Inc., an energy
business involved in the exploration and production of oil and gas wells;
Mycelium Holdings, a leading indoor air quality improvement firm specializing in
the detection, location and diagnosis of mold and moisture problems.
About NEXTinvestor.com
NEXTinvestor.com is an online resource for investors in micro-cap public
companies and early to later-stage private companies. It is focused on providing
updated information including investor events, CEO interviews, online media
resources and other business ideas to both institutional and private investors.
Through its unique distribution channels, it provides an opportunity for
businesses to facilitate virtual presentations and connect with the business,
financial and investor community. NEXTinvestor.com (www.nextinvestor.com) is a
division of Inspire Solutions, LLC and is based in New York City.
Certain statements contained in this news release or video media regarding
matters that are not historical facts may be forward-looking statements. More
information and full disclaimer is presented at
www.nextinvestor.com/disclaimer.html.
SOURCE NEXTinvestor.com
URL: http://www.nextinvestor.com/
www.prnewswire.com
ALISO VIEJO, Calif., Jul 24, 2008 (BUSINESS WIRE) -- Clarient, Inc.
(Nasdaq:CLRT), a premier anatomic pathology and molecular testing services
resource for pathologists, oncologists and the pharmaceutical industry, today
announced that it will report its financial results for the second quarter and
six months ended June 30, 2008 and certain future expectations after the stock
market closes on Wednesday, August 6.
News for 'SFE' - (*DJ Alverix Appoints James D. Merselis As Pres And CEO)
(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)
July 16, 2008 10:46 ET (14:46 GMT)
Jim Agnello to Resign as Clarient Chief Financial Officer
ALERT ~ SAFEGUARD HAS MUCHO NEWS LOOK IT UP.. TOO MUCH TO POST!
News for 'SFE' - (Safeguard Scientifics Awarded Top Honors for Philanthropic
Commitment Company Honored by Philadelphia Business Journal's Inaugural
Corporate Philanthropy Summit)
WAYNE, Pa., May 02, 2008 (BUSINESS WIRE) -- Safeguard Scientifics, Inc.
(NYSE:SFE), a holding company that builds value in growth-stage technology and
life sciences companies, today announced that it received the Philanthropic
Donor Award for Small Companies at the Philadelphia Business Journal's 2008
Corporate Philanthropy Summit.
Safeguard Scientifics was presented with the award for its active commitment to
philanthropy. Most recently, Safeguard played a vital role in launching the
Philadelphia Chapter of the National Foundation for Teaching Entrepreneurship
(NFTE) by committing seed funding over three years. Peter J. Boni, President and
CEO of Safeguard Scientifics, currently serves as co-Chairman of the
Philadelphia Advisory Board for NFTE. In addition in 2000, Safeguard pledged
financing over eight years to the National Constitution Center to construct its
museum building and Washington statue. To compliment these efforts, Safeguard
matches employee contributions to various organizations and has provided more
than 1,000 lbs of food to Philabundance.
"We are truly honored to receive this award for our commitment to philanthropy,"
says Boni. "Safeguard has a rich, 50-year legacy of fostering entrepreneurship
and supporting history and culture in the Philadelphia region. For Safeguard,
there is no better way to combine these efforts than to partner with NFTE. We
strongly believe that the future of American businesses rests in the hearts and
minds of today's youth, and believe that business leaders have the
responsibility to foster and cultivate this potential talent. We look forward to
continuing our support for NFTE and many other organizations in the region."
The Corporate Philanthropy Summit, held Wednesday, April 30th at Philadelphia's
Sheraton City Center, was designed to demonstrate how local companies engage in
community efforts to make the Greater Philadelphia area a better place to live
and work.
About Safeguard
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE:SFE)
provides growth capital for entrepreneurial and innovative technology and life
sciences companies. Safeguard targets technology companies in Software as a
Service (SaaS), Technology-Enabled Services and Internet-based Businesses, and
life sciences companies in Molecular and Point-of-Care Diagnostics, Medical
Devices and Specialty Pharmaceuticals with capital requirements between $5 and
$50 million. Safeguard participates in expansion financings, corporate
spin-outs, management buyouts, recapitalizations, industry consolidations and
early-stage financings. www.safeguard.com
About National Foundation for Teaching Entrepreneurship
The National Foundation for Teaching Entrepreneurship (NFTE) provides
entrepreneurship education programs to young people from low-income communities.
Our goal is to empower young people, many of whom struggle in school, to change
their lives through entrepreneurship education. Since 1987 NFTE has reached over
185,000 young people and trained more than 4,200 Certified Entrepreneurship
teachers. NFTE currently has programs in 21 states and 13 countries.
www.nfte.com
SOURCE: Safeguard Scientifics, Inc.
CONTACT: For Safeguard ScientificsGregory FCAKristy Lash,
610-642-8253c: 484-686-4775Kristy@GregoryFCA.com
*DJ Clarient 1Q Rev $15.9M Vs $8.83M, +80% >CLRT
.
(MORE TO FOLLOW) Dow Jones Newswires
April 30, 2008 16:40 ET (20:40 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.- - 04 40 PM EDT 04-30-08
News for ' SFE ' - (Laureate Pharma Announces Manufacturing Agreement With Alopexx
Pharmaceuticals, LLC)
PRINCETON, New Jersey, Apr 10, 2008 (PR Newswire Europe via COMTEX) -- Laureate
To Manufacture Alopexx's Product Candidate -
Laureate Pharma, Inc., a full-service biopharmaceutical development and protein
production company, today announced that it has entered into a cGMP contract
manufacturing agreement with Alopexx Pharmaceuticals, LLC. According to the
agreement, Laureate will produce Alopexx's mAb F598 antibody under cGMP
conditions. This antibody is planned for use in clinical trials, and later for
commercial production for the treatment and prevention of Staphylococcus aureus
infections. Terms of the manufacturing agreement were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/NETH020LOGO )
"We are pleased that Alopexx chose Laureate Pharma as their manufacturing
partner," said Robert J. Broeze, Ph. D., President & CEO of Laureate. "We will
closely collaborate with the Alopexx team and help them drive their product from
development into the clinic."
"Laureate Pharma has a track record of demonstrated expertise in
biopharmaceutical manufacturing, including capabilities in both clinical and
commercial-grade materials," said Dr. Daniel Vlock, President and CEO of
Alopexx. "We look forward to our partnership with Laureate and advancing our
antibody therapeutics program into the clinic."
About Laureate Pharma, Inc.
Laureate Pharma is a full-service biopharmaceutical development and protein
production company located in Princeton, New Jersey. Laureate Pharma offers
superior bioprocessing services that accelerate new products from development
through production. Laureate provides a wide range of specialized services from
process design and development to full-scale cGMP production, purification,
aseptic filling, testing, validation, analytical services, and regulatory
support. Laureate is focused on two active segments of the biopharmaceutical
industry: monoclonal antibodies and recombinant protein products. Laureate
Pharma, Inc. is a wholly owned subsidiary of Safeguard Scientifics, Inc. (NYSE:
SFE) (www.safeguard.com). For more information, contact Michael Cavanaugh, Vice
President Sales, Marketing, and Business Development at +1-609-919-3400, or
info@laureatepharma.com or visit www.laureatepharma.com .
About Alopexx Pharmaceuticals, LLC
Alopexx Pharmaceuticals was founded to develop a promising new treatment for
serious Staphylococcus aureus infections, including those caused by
methicillin-resistant strains known as MRSA. In the past decade MRSA has emerged
as a major public health problem. Due to the increasing volume of antimicrobial
usage around the world, MRSA and many bacteria have become increasingly
resistant to most commonly used antibiotics. mAb F598 is a fully human
monoclonal antibody that has the potential to serve as an alternative to
antibiotics in the fight against MRSA and other S. aureus infections. Unlike
antibiotics, monoclonal antibodies will not lead to the development of bacterial
resistance. The target of the antibody is a carbohydrate on the bacterial
capsule known as PNAG. PNAG has been found to be a critical factor in the
virulence and immune response to MRSA as well as non-MRSA staphylococcal
infections and is also expressed by other bacterial pathogens. Alopexx
Pharmaceuticals, LLC was co-founded by Gerald Pier, PhD and Daniel Vlock, MD.
Its aim is to develop and explore the use of novel therapies for the treatment
and prevention of MRSA and other serious infections. For more information
contact Daniel Vlock, MD at +1-617-780-1598 or daniel.vlock@alopexx.com or visit
www.alopexx.com .
Web site: http://www.laureatepharma.com
http://www.alopexx.com
http://www.safeguard.com
News for 'SFE' - (Clarient to Release Fourth Quarter 2007 Financial Results On
Monday, March 31 Conference Call and Audio Webcast Scheduled for 8:00 a.m. EDT)
ALISO VIEJO, Calif., Mar 27, 2008 (PrimeNewswire via COMTEX) -- Clarient, Inc.
(Nasdaq:CLRT), a premier technology and services resource for pathologists,
oncologists and the pharmaceutical industry, today announced that it will report
its financial results for the fourth quarter and year ended December 31, 2007,
and certain future expectations in a conference call before the stock market
opens on Monday, March 31.
News for 'SFE' - (Laureate Announces Second Manufacturing Agreement with
Cytheris)
PRINCETON, New Jersey and PARIS, Mar 27, 2008 (PR Newswire Europe via COMTEX)
-- Laureate to Manufacture Cytheris' Lead Product Candidate, INTERLEUKIN-7,
currently in clinical trials for treatment of HIV, HCV and cancer
Laureate Pharma, Inc., a full-service biopharmaceutical development and protein
production company, announced today that it has entered into a cGMP contract
manufacturing agreement with Cytheris SA, a clinical stage biopharmaceutical
company focused on research and development of new therapies for immune
modulation. According to the agreement, Laureate will manufacture Cytheris' lead
product candidate, Interleukin-7 (IL-7), a fully glycosylated recombinant human
protein and critical growth factor for immune T-cell recovery, for use in
ongoing international clinical trials currently being conducted for treatment of
HIV, HCV and cancer. Terms and conditions of the agreement were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/NETH020LOGO )
Recombinant human Interleukin-7 (r-hIL-7) is a critical growth factor for immune
T-cell recovery and enhancement. Clinical investigations conducted on more than
75 patients in Europe, the U.S. and Canada have suggested the potential of
r-hIL-7 to expand and protect CD4+ and CD8+ T-cells.
"We are delighted that Cytheris has selected us again as their CMO, to
manufacture IL-7 in support of their expanded clinical trial program. This is a
testimonial to our successful partnership with our clients and our effort to
achieve their total satisfaction in our ability to meet their manufacturing
needs," said Robert J. Broeze, Ph.D., President & CEO of Laureate. "We will work
with the Cytheris team very closely and help them realize the greatest potential
of their IL-7 development and production program."
"As we move towards large scale production of our IL-7 biotherapeutic, we are
pleased to continue our strong working relationship with Laureate Pharma," said
Michel Morre, DVM, President and CEO of Cytheris. "With Laureate's demonstrated
skill in successful transfer of process technology, we look forward to
continuing to work together in the process scale-up, engineering and clinical
material production of IL-7 for our ongoing clinical trials investigating
multiple indications."
About Laureate Pharma, Inc.
Laureate Pharma is a full-service biopharmaceutical development and protein
production company located in Princeton, New Jersey. Laureate Pharma offers
superior bioprocessing services that accelerate new products from development
through production. Laureate provides a wide range of specialized services from
process design and development to full-scale cGMP production, purification,
aseptic filling, testing, validation, analytical services, and regulatory
support. Laureate is focused on two active segments of the biopharmaceutical
industry: monoclonal antibodies and recombinant protein products. Laureate
Pharma, Inc. is a wholly owned subsidiary of Safeguard Scientifics, Inc. (NYSE:
SFE) (http://www.safeguard.com). For more information, contact Michael
Cavanaugh, Vice President Sales, Marketing, and Business Development at
+1-609-919-3400, or info@laureatepharma.com or visit
http://www.laureatepharma.com.
About Cytheris SA
Cytheris SA is a privately held clinical-stage biopharmaceutical company focused
on research and development of new therapies for immune modulation. These drugs
aim at reconstituting and enhancing the immune systems of patients suffering
from cancer, chronic viral or bacterial infections such as HIV and HCV, or
lympho-depleting treatments such as chemotherapy, radiotherapy, bone marrow
transplantation (BMT) and hematopoietic cell transplantation (HCT). The company
operates from its headquarters and laboratories in Issy-les-Moulineaux, a suburb
of Paris, and its U.S. subsidiary in Rockville, Maryland. For more information,
please contact Andrew Lloyd, Andrew Lloyd & Associates: (allo@ala.com), Gilles
Petitot (gilles@ala.com) at +33-1-5654-0700 or visit http://www.cytheris.com.
News for 'SFE' - (Safeguard Scientifics to Release Fourth Quarter and Year-End
2007 Financial Results on Tuesday, April 1st Conference Call and Audio Webcast
Scheduled for 9:00am ET)
WAYNE, Pa., Mar 28, 2008 (BUSINESS WIRE) -- Safeguard Scientifics, Inc.
(NYSE:SFE), a holding company that builds value in growth-stage technology and
life sciences companies, today announced that it will release its financial
results for the fourth quarter and year-ended December 31, 2007 prior to market
open on Tuesday, April 1, 2008.
showing a very nice intraday chart.. looking good.
real
News for 'SFE' - (SAFEGUARD SCIENTIFICS INC Consensus Recommendation: BUY)
Mar 06, 2008 (Nelson's Broker Summaries via COMTEX) --
Company: SAFEGUARD SCIENTIFICS INC
Consensus Recommendation: BUY
(Strong Buy: 0, Buy: 3, Hold: 0, Underperform: 0, Sell: 0)
Quarter Consensus Estimate [Q1]: -0.07
FY Consensus Estimate [FY2008]: -0.28
Next FY Consensus Estimate [FY2009]: N/A
Industry: TECHNOL/OTHERCOM
Estimates reported in USD
News for 'SFE' - (Laureate Pharma Appoints Gary Swan as Vice President of
Operations)
PRINCETON, New Jersey, Feb 14, 2008 (PR Newswire Europe via COMTEX) -- Augments
Senior Management Team with more than 30 Years Experience in Biopharmaceutical
Manufacturing, Engineering, Technical Services and Validation
Laureate Pharma, Inc., a full-service biopharmaceutical development and protein
production company, today announced the appointment of Gary Swan as Vice
President of Operations. In this newly created position, Mr. Swan will be
responsible for leading Laureate's manufacturing operations, which include
upstream processing, downstream processing, formulation and filling, facilities
maintenance, warehouse operations, and environmental, health and safety
regulations.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/NETH020LOGO )
"We are delighted to welcome Gary to Laureate's senior leadership team," said
Robert J. Broeze, Ph.D., President and CEO of Laureate. "With his strong
background and extensive experience of more than 30 years in biopharmaceutical
manufacturing operations, Gary will play a key leadership role in driving and
managing Laureate's tremendous growth."
Gary's experience includes biopharmaceutical manufacturing, engineering,
technical services, validation, and quality control. Most recently, Gary held
the position of Senior Director of Manufacturing at Nastech Pharmaceuticals in
Hauppauge, NY, a publicly traded biopharmaceutical company developing innovative
products based on proprietary molecular biology-based drug delivery
technologies. At Nastech, Gary directed the operations at two manufacturing
sites in New York and Washington. In this capacity, he also led the planning and
scheduling of the production of R&D, clinical, and licensed products. Prior to
Nastech, Gary was the Vice President of Operations at VI Technologies in
Melville, NY, a publicly traded biopharmaceutical company with a focus on
development and manufacturing of virus-inactivated blood products and the
purification of proteins from blood components. At VI, Gary was responsible for
strategic planning and daily operation of a 100,000 SF sterile product
biopharmaceutical facility with a staff of 200. Gary has a BS in Biology from
Auburn University, Auburn, AL.
About Laureate Pharma, Inc.
Laureate Pharma is a full-service biopharmaceutical development and protein
production company located in Princeton, New Jersey. Laureate Pharma offers
superior bioprocessing services that accelerate new products from development
through production. Laureate provides a wide range of specialized services from
process design and development to full-scale cGMP production, purification,
aseptic filling, testing, validation, analytical services, and regulatory
support. Laureate is focused on two active segments of the biopharmaceutical
industry: monoclonal antibodies and recombinant protein products. Laureate
Pharma, Inc. is a partner company of Safeguard Scientifics, Inc. (NYSE: SFE;
www.safeguard.com), which provides growth capital for entrepreneurial and
innovative technology and life sciences companies through expansion financings,
corporate spin-outs, management buyouts, recapitalizations, industry
consolidations and early-stage financings. For more information, contact Michael
Cavanaugh, Vice President Sales, Marketing, and Business Development at
+1-609-919-3400 or info@laureatepharma.com, or visit www.laureatepharma.com.
News for 'SFE' - (Beyond.com Reports Key Industries Remain Strong for Jobs
Despite Recessionary Concerns IT, Sales, Healthcare and Accounting jobs
expected to thrive in 2008)
PHILADELPHIA, Feb 13, 2008 (BUSINESS WIRE) -- Beyond.com, Inc., the world's
largest network of online niche career communities, today released its Fourth
Quarter 2007 Career Trends Analysis and Industry Outlook Reports, showing that
despite indicators of a looming recession, many industries remain strong and
positioned for growth in 2008.
For the fourth consecutive quarter, Information Technology ranked #1 for online
job postings, accounting for 13 percent of all jobs posted within the Beyond.com
Network of over 15,000 job sites. Sales & Sales Management remained in the #2
spot with 12 percent, and Healthcare & Medical held on to the #3 position,
representing 10 percent of all online jobs posted. Accounting & Finance regained
the #4 spot with 8 percent, and Travel & Hospitality dropped to the #5 industry
with 7 percent.
Although numerous reports are predicting that the United States is entering into
an economic recession, many industries such as IT should experience minimal
impact due to the constant need for technical development and innovation, and
importance of information management and security. According to Beyond.com, some
of the most sought after IT skills include: FOCUS, SQL, C++, Hardware, Oracle,
Java, and UNIX. Geographic regions will also play a role in the demand for IT
positions, with the strongest concentration of jobs in the Northeast and
Mid-Atlantic regions.
Other industries expected to thrive include:
-- Accounting and Finance -According to Beyond.com, this industry experienced
one of the largest percentage increases for online job postings over the last
year (1.16 percent), and is expected to grow due to the need for experienced
accounting and tax professionals to keep up with changing financial laws and
accounting regulations.
-- Healthcare and Medical - The # 3 industry for online job postings, although
it experienced a decrease over last year, is expected to grow in 2008 to support
the aging population and expansion of independent healthcare facilities that
require an influx of health services and home health personnel of all levels.
"The future growth and stability of the US economy and employment market will be
influenced by the unstable housing market, rising gas prices and the upcoming
presidential elections," says Rich Milgram, CEO of Beyond.com, Inc. "Although
hiring budgets could tighten as a result of the economy, demand for skilled
professionals in key industries such as IT, and Accounting and Finance, should
continue to grow to support technology and business functions necessary to stay
competitive."
The complete Career Trends Analysis Report and Industry Outlook Reports are
available by visiting www.Beyond.com/Media.
About Beyond.com, Inc.
Beyond.com, Inc. is the world's largest network of online niche career
communities, powering more than 15,000 geographic and industry-specific sites.
We are dedicated to helping business professionals, corporations and vertical
communities connect with each other by providing relevant career search
services, networking tools and portal software solutions. The Beyond.com Network
attracts a niche audience of job seekers, professionals and corporations and
delivers quality, targeted results through a multitude of online media and
advertising models, including: recruitment advertising, email marketing, banner
advertising and other lead generation vehicles.
Beyond.com is named to Inc. Magazine's prestigious 'Inc. 500' list of the
fastest growing private companies in 2007 and is a Safeguard Scientifics partner
company. www.Beyond.com
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE:SFE)
provides growth capital for entrepreneurial and innovative technology and life
sciences companies. Safeguard targets technology companies in Software as a
Service (SaaS), Technology-Enabled Services and Internet-based Businesses, and
life sciences companies in Molecular and Point-of-Care Diagnostics, Medical
Devices and Specialty Pharmaceuticals with capital requirements between $5 and
$50 million. Safeguard participates in expansion financings, corporate
spin-outs, management buyouts, recapitalizations, industry consolidations and
early-stage financings. www.safeguard.com
SOURCE: Beyond.com, Inc.
CONTACT: Beyond.com, Inc.Tara GerardMarketing & Communications
Associate610-878-2800TaraG@Beyond.comorPAN CommunicationsJeffrey DillowAccount
Manager978-474-1900Beyond@Pancomm.com
Copyright Business Wire 2008
-0-
back in the saddle.. this one is due but i don't like that macd yet
SFE is due for the reversal.. this one has been nice over the years for ATM status...
real
this one could be getting ready to move off the bottom.
ral
Safeguard Scientifics and New Venture Partners Co-Lead $7.7 Million Series A Financing for Alverix, Inc.
Transaction Facilitated Spin-Out from Avago Technologies
Point-of-Care Technology Provider Will Use Proceeds for Key Hires, Product Development and Commercialization of Various Point-of-Care Assay Devices
Safeguard Scientifics, Inc. (NYSE:SFE), a holding company that builds value in growth-stage technology and life sciences companies, today announced that it co-led a $7.7 million Series A financing round for San Jose, CA-based Alverix, Inc., a point-of-care (POC) diagnostics technology provider, with New Venture Partners LLC, the global venture capital firm dedicated to corporate technology spinouts. Alverix will use the proceeds of this financing round for key hires, product development and commercialization of its POC assay devices.
Alverix is a spin out from Avago Technologies, a leading supplier of analog interface components for communications, industrial and consumer applications. The Company is leveraging a 30-year legacy of expertise in optical sensors, image processing, software and signal enhancement algorithms, and owns proprietary technology for low-cost, portable assay detection devices for medical diagnostics and other applications. When combined with existing diagnostics tests, or with assays currently being developed, Alverix’s devices enable central laboratory quality results to be done in any location where test information is critical to patient care. Until now, this level of performance required expensive, bench-top instrumentation. In contrast, Alverix’s detection devices provide immediate, accurate results at POC – in doctors’ offices, clinics, retail environments or workplace settings – for a fraction of the cost and turn around time of traditional methods. Current applications include testing for drugs of abuse (DOA), cardiac, cancer, infectious disease and drug efficacy.
“Alverix fits within our core competency of partnering with innovative life sciences companies that target diagnostics, medical device or specialty pharmaceuticals,” said Peter J. Boni, President and CEO of Safeguard Scientifics. “Safeguard’s life sciences team together with New Venture Partners’ technology expertise will be invaluable for Alverix as it moves to partner with diagnostic marketers and manufacturers to usher in the next generation of point-of-care diagnostics.”
“Alverix’s technology is well positioned to exploit portions of the $9 billion fragmented POC and $18.7 billion central laboratory markets where its devices are applicable,” says Gary J. Kurtzman, MD, Vice President of Life Sciences at Safeguard, and interim CEO for Alverix. “This disruptive technology delivers more functionality, in particular greater sensitivity and accuracy at a greatly reduced cost. The company’s technology platform allows it to expand accessibility of existing and new diagnostic tests and promotes the next generation of diagnostics that will be designed for broad use by physicians and patients.”
Two macro trends are fueling increased demand for POC rapid tests. First, the cost and efficiency of the delivery of healthcare will be greatly augmented as more diagnostics tests are performed more quickly at the point of care. Second, as consumers begin to take greater ownership of their own healthcare, there is growing demand for accessibility to diagnostic testing, in retail settings as well as in the home.
“This is an exciting time for the Alverix team,” said Patrick T. Petruno, Founder and Chief Operating Officer of Alverix. “Under the umbrella of a large company, we conceived and incubated the concepts behind a new instrumentation platform for Point of Care applications. Now, as an independent company, made possible by Safeguard Scientifics and New Venture Partners, we are well positioned to further develop and commercialize our products. Our ultimate goal is to revolutionize POC diagnostic testing, allowing physicians and eventually patients to better monitor and manage their healthcare needs with the confidence that the results can be used for immediate treatment.”
Gary Kurtzman and David Tennenhouse, Partner at New Venture Partners, will join Alverix’s Board of Directors.
About Alverix
Founded in 2007 and based in San Jose, CA, Alverix builds upon a 30-year legacy of expertise in optical sensors, image processing, software, and signal enhancement algorithms. The company’s product focus is producing low cost, handheld reader devices with the accuracy and precision of laboratory instrumentation. Alverix partners with diagnostic companies seeking to increase current test accuracy, improve the portability of existing tests, or develop new assays for use in physician offices, laboratory outreach locations, retail clinics and homes. With strength in product design, product development, and high throughput manufacturing, Alverix is leading the transition of diagnostic testing from the laboratory to on site locations where immediate results are critical to patient care. www.alverix.com
About New Venture Partners
New Venture Partners LLC, the global venture capital firm dedicated to corporate technology spinouts, has over $700 million under management. New Venture Partners provides a bridge between technology corporations and traditional venture capital. Through its unique, hands-on approach, the firm offers a systematic process for commercializing innovations and provides an alternative path to market for corporate technologies. The New Venture Partners team has completed over 50 spinouts from the R&D labs and business units of global technology corporations including Lucent/Bell Labs, British Telecom, Philips Electronics, Agere, Boeing, Intel, Telstra, and others, and has become the benchmark for corporate spinout venturing. www.nvpllc.com
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE:SFE) provides growth capital for entrepreneurial and innovative technology and life sciences companies. Safeguard targets technology companies in Software as a Service (SaaS), Technology-Enabled Services and Internet-based Businesses, and life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with capital requirements between $5 and $50 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. www.safeguard.com
Except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. These forward-looking statements that could cause actual results to differ materially, include, among others, managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, the ability to execute our strategy, the uncertainty of the future performance of our companies, acquisitions and dispositions of companies, the inability to manage growth, compliance with government regulations and legal liabilities, additional financing requirements, the effect of economic conditions in the business sectors in which our companies operate, and other uncertainties described in the Company’s filings with the Securities and Exchange Commission. Many of these factors are beyond our ability to predict or control. In addition, as a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this press release.
MEDIA:
For Safeguard Scientifics and Alverix
Gregory FCA
Theresa Murray
610-642-8253 or 732-278-4473
Theresa@GregoryFCA.com
or
For New Venture Partners
Julie Lydon
415-816-9397
julie@nvpllc.com
Source: Business Wire (February 6, 2008 - 9:07 AM EST)
News by QuoteMedia
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considering they are my charts on this board... and I still trade this one.. I should be back in the saddle soon...
real
SFE continues pullback before earnings next wed..
SFE I expect it to pull back before they release earnings new. Might be a nice pullback...
real
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