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Rainmaker Systems, Inc. (RMKR) Awarded Major Contract Extension
Located in Campbell, California, Rainmaker has quickly earned a reputation as a leading global provider of B2B e-commerce solutions that drive online sales and renewal for products, subscriptions and training for their clients. Today, Rainmaker announced they have been awarded a five-year contract extension by an existing global B2B e-commerce client.
The new contract will expire in December of 2016 and was granted by a client who is a global leader in end-to-end business process management with the belief this will drive online business sales.
Leading the way Rainmaker is Michael Silton whom serves as the company’s CEO. In reference to this press release, Silton stated, “Our modern SaaS approach to e-commerce puts control in the hands of our clients and our unique B2B capabilities allow them to effectively increase revenue. This contract, which is our first five-year contract extension, reflects our proven ability to provide value for our clients on a global basis.”
Currently, Rainmaker is trading in the $0.86 range. With the Rainmaker e-commerce solution suite delivering a solid foundation for clients to reach their small to medium sized business customers and an array of technology within the company’s pipeline, Rainmaker is a company on the rise.
To learn more about this press release, or the company as a whole, visit the company’s corporate website at www.rainmakersystems.com
AdCare Health Systems, Inc. (ADK) Invited to Present at the Noble 8th Annual Equity Conference
AdCare Health Systems, Inc., a nursing home and assisted living company providing high-quality care for patients and residents residing in the 44 facilities that it operates, announced it will be presenting at the Noble Financial Capital Markets’ 8th Annual Equity Conference. The conference will be held January 17-18, 2012, at the Hard Rock Hotel & Casino in Hollywood, Florida.
AdCare’s chief executive officer, Boyd Gentry, and chief acquisition officer, Chris Brogdon, are scheduled to present on Tuesday, January 17, 2012, at 11:30 a.m. Eastern time. One-on-one meetings with the management team will be held throughout the day. The presentation will be video webcast live and available for replay via the investor relations section of AdCare’s website at www.adcarehealth.com.
AdCare management will discuss the emerging opportunities in the highly fragmented healthcare segments of senior assisted living and elderly nursing care, as well as talk about the progress of AdCare’s M&A program designed to build upon the company’s strong reputation for operational efficiency and high-quality living environments. Including the M&A transactions AdCare has closed and in the process of closing, the company expects its annualized revenue run-rate to exceed $320 million, which would represent an increase of 500% over last year.
The conference will showcase approximately 140 small-cap and micro-cap companies. The companies selected for this conference are found within these four general sectors: healthcare, technology, software, defense and media/entertainment. In order to arrive at a distinguished roster of companies, Noble Financial’s senior equity research team evaluates close to 1,000 potential presenters.
Noble Financial, a research driven, full-service investment banking boutique, is as discriminating with its invitations to institutional investors as it is with the companies invited to present. Rather than just focusing on crowding the conference floor, Noble Financial carefully invites a smaller audience of investors with a large appetite for the companies presenting; quality always trumps quantity.
American Standard Energy Corp. (ASEN) Updates Investors on Oil and Gas Activity in the Permian Basin
American Standard Energy Corp. released an update on its oil and gas activity in the United States during the final quarter of 2011. The company is actively drilling and completing wells on its properties in West Texas.
American Standard Energy Corp. reached total depth on 16 wells drilled in the Permian Basin during the fourth quarter of 2011. The company also completed an additional seven wells and increased gross production by 678 barrels of oil equivalent per day.
American Standard Energy Corp. is targeting various oil bearing formations in the Permian Basin, including the Strawn, Clearfork, Spraberry, Wolfberry and Wolfcamp zones. The company has 6,500 net acres under lease in this area.
American Standard Energy Corp. operated three drilling rigs in the Permian Basin during the most recent quarter and has scheduled four additional completions for January 2012. The company maintains its drilling and completion operations in association with Cambrian Management, a consulting firm headquartered in Midland, Texas.
American Standard Energy Corp. has prospective acreage in two other onshore areas of the United States. The company has 32,300 net acres exposed to the Bakken and Three Forks formations in North Dakota and 1,200 net acres prospective for the Eagle Ford Shale in Texas.
For more information on the company, go to www.asenergycorp.com
AdCare Health Systems, Inc. (ADK) Invited to Present at the Noble 8th Annual Equity Conference
AdCare Health Systems, Inc., a nursing home and assisted living company providing high-quality care for patients and residents residing in the 44 facilities that it operates, announced it will be presenting at the Noble Financial Capital Markets’ 8th Annual Equity Conference. The conference will be held January 17-18, 2012, at the Hard Rock Hotel & Casino in Hollywood, Florida.
AdCare’s chief executive officer, Boyd Gentry, and chief acquisition officer, Chris Brogdon, are scheduled to present on Tuesday, January 17, 2012, at 11:30 a.m. Eastern time. One-on-one meetings with the management team will be held throughout the day. The presentation will be video webcast live and available for replay via the investor relations section of AdCare’s website at www.adcarehealth.com.
AdCare management will discuss the emerging opportunities in the highly fragmented healthcare segments of senior assisted living and elderly nursing care, as well as talk about the progress of AdCare’s M&A program designed to build upon the company’s strong reputation for operational efficiency and high-quality living environments. Including the M&A transactions AdCare has closed and in the process of closing, the company expects its annualized revenue run-rate to exceed $320 million, which would represent an increase of 500% over last year.
The conference will showcase approximately 140 small-cap and micro-cap companies. The companies selected for this conference are found within these four general sectors: healthcare, technology, software, defense and media/entertainment. In order to arrive at a distinguished roster of companies, Noble Financial’s senior equity research team evaluates close to 1,000 potential presenters.
Noble Financial, a research driven, full-service investment banking boutique, is as discriminating with its invitations to institutional investors as it is with the companies invited to present. Rather than just focusing on crowding the conference floor, Noble Financial carefully invites a smaller audience of investors with a large appetite for the companies presenting; quality always trumps quantity.
ADK Invited to Present at the Noble 8th Annual Equity Conference
AdCare Health Systems, Inc., a nursing home and assisted living company providing high-quality care for patients and residents residing in the 44 facilities that it operates, announced it will be presenting at the Noble Financial Capital Markets’ 8th Annual Equity Conference. The conference will be held January 17-18, 2012, at the Hard Rock Hotel & Casino in Hollywood, Florida.
AdCare’s chief executive officer, Boyd Gentry, and chief acquisition officer, Chris Brogdon, are scheduled to present on Tuesday, January 17, 2012, at 11:30 a.m. Eastern time. One-on-one meetings with the management team will be held throughout the day. The presentation will be video webcast live and available for replay via the investor relations section of AdCare’s website at www.adcarehealth.com.
AdCare management will discuss the emerging opportunities in the highly fragmented healthcare segments of senior assisted living and elderly nursing care, as well as talk about the progress of AdCare’s M&A program designed to build upon the company’s strong reputation for operational efficiency and high-quality living environments. Including the M&A transactions AdCare has closed and in the process of closing, the company expects its annualized revenue run-rate to exceed $320 million, which would represent an increase of 500% over last year.
The conference will showcase approximately 140 small-cap and micro-cap companies. The companies selected for this conference are found within these four general sectors: healthcare, technology, software, defense and media/entertainment. In order to arrive at a distinguished roster of companies, Noble Financial’s senior equity research team evaluates close to 1,000 potential presenters.
Noble Financial, a research driven, full-service investment banking boutique, is as discriminating with its invitations to institutional investors as it is with the companies invited to present. Rather than just focusing on crowding the conference floor, Noble Financial carefully invites a smaller audience of investors with a large appetite for the companies presenting; quality always trumps quantity.
China Shen Zhou Mining & Resources, Inc. (SHZ) to Acquire Fluorite-Barite Mining Mineral Processing Companies
China Shen Zhou Mining & Resources announced Monday the signing of a Memorandum of Understanding calling for the merger and acquisition of several fluorite and barite mining and processing companies in the Guizhou province of south central China. China Shen Zhou, the biggest mining and mineral processing company in northern china, considers the acquisition and integration of high-quality fluorite resources as a major part of their growth strategy, which falls in line with the Chinese government’s encouragement of the merger and integration of fluorite mining. China has recently increased the barriers to the entry of new players in the fluorite mining industry. China Shen Zhou has looked at acquiring a number of fluorite and barite mining companies.
The CEO of China Shen Zhou, Ms. Xiaojing Yu, commented on the planned acquisitions: “The Company has always believed that fluorite, as a widely used yet scarce strategic resource, will be in high demand given continuing economic development in China. China’s Wuling mountains are very rich in resources of fluorite and barite and possess excellent ore quality with low levels of phosphorus and sulfur. Barite is similar to fluorite as it is also a widely used diminishing resource. Because of China Shen Zhou’s advanced knowledge of the methods of separation of fluorite and barite ore and of methods of deep-processing of barite, the acquisitions of the Wuling mountain fluorite and barite resources will greatly enhance the Company’s reserves, laying the foundation for China Shen Zhou to become one of the largest fluorite mining and processing companies in China. Meanwhile, we will use the acquired barite resources to greatly improve the Company’s mining, processing and production capabilities.”
Barite is a key source of barium, with China ranked #1 in the world for barite reserves and production. Barite powder is used in the oil and gas industry, and barium sulfate is widely used in coatings, paints, inks, daily chemical products, textiles, papers, and other products. China Shen Zhou Mining & Resources, through its subsidiaries, is engaged in the exploration, development, mining, and processing of fluorite and nonferrous metals such as zinc, lead, and copper in China.
Negotiations on the acquisitions are expected to be finalized within the next 60 days.
For additional information, visit the company’s website at www.chinaszmg.com
NeoGenomics (NGNM) Inks $1M Licensing Agreement with Health Discovery (HDVY)
NeoGenomics Inc., a leading provider of cancer-focused genetic testing services, today announced that it has licensed the exclusive worldwide rights to use Health Discovery Corp.’s (HDC) intellectual property portfolio to develop laboratory developed tests (LDTs) and other products relating to hematopoietic and solid tumor cancers, excluding retina and breast cancer.
“Our agreement with HDC is an important strategic building block for NeoGenomics. We are executing well on the fundamentals of providing high-quality service, and have developed strong market-based partnerships with leading pathologists and clinicians. The ability to develop and successfully market innovative and proprietary genetic and molecular-based tests is an important third element of our strategy. This agreement provides the tools and resources necessary for NeoGenomics to execute on this essential strategic initiative,” Doug VanOort, chairman and CEO of NeoGenomics stated in the press release.
Per the agreement, NeoGenomics can develop and sell any gene, gene-product or protein-based LDT based on HDC’s technology. The agreement also gives NeoGenomics’ access to certain HDC personnel and consulting resources.
NeoGenomics paid $1 million in cash and issued 1,360,000 shares of common stock to HDC in upfront licensing fees. In addition, NeoGenomics will make milestone payments of $500,000 (up to $5 million) for every $2 million in revenue recognized by NeoGenomics based on products and services developed as a result of the licensing agreement. After NeoGenomics recognizes $20 million in cumulative revenue, NeoGenomics will pay a royalty of 6.5 percent on product sales and will share profits from sub-licensing arrangements.
VanOort said NeoGenomics will initially focus on development of LDTs for the detection of prostate, pancreatic and colon cancer. The company will also develop interpretation software targeted at automating cytogenetics and flow cytometry analysis.
“We have gained strong momentum in the marketplace over the past few quarters. Now, we are very focused on solidifying our gains and capitalizing on future opportunities available to us,
VanOort concluded. “With demographic changes in our country driving a significant increase in the prevalence of cancer and the possibilities offered by personalized medicine, it is an ideal time for us to invest even more in new genetic test development.”
Not All Treasury Securities Are the Same
U.S. Treasury securities have traditionally been considered the safest investments in the world. They are, after all, backed by the “full faith and credit” of the U.S. federal government, a safety net unmatched by any other investment. A company, regardless of its age, size, or reputation, can always fall, sometimes dramatically and unexpectedly. It’s easy to forget that Enron, prior to the financial scandal that led to its bankruptcy in 2001, was a major American corporation, held up as an example of good management. Highlighted multiple times by Fortune as the country’s most innovative company, Enron was dealing in what had been considered a relatively safe foundational part of the economy: electricity, natural gas, and communications. Within a matter of months the $100 billion a year company was no more.
Today, however, with the U.S. and global economy facing a financial crisis like none in history, even the best reputations are being re-examined. The unprecedented levels of current and anticipated debt have raised fears that politicians will ultimately look for a back door exit, giving the green flag to economic policies that will drive inflation, making it easier to pay off old debts with cheap paper. The notion that high inflation rates favor debtors is an old one, and desperate governments have been known to use it, but it’s the fear of inflation, not inflation itself, that has become a factor in such conservative investments as U.S. Treasury securities.
But not all Treasury securities are the same. There are basically four types of treasury securities. First there are Treasury bills, Treasury notes, and Treasury bonds. Treasury bills are purchased at a discount, maturing in one year or less, with no interest paid in between. Treasury notes can be for up to 10 years, but give a coupon payment every 6 months, based upon a fixed coupon interest rate. Treasury bonds often last up to 30 years, and also have a fixed interest coupon payment. Obviously such fixed return investments face the risk of inflation.
Then there are TIPS (Treasury Inflation Protected Securities). TIPS are long term securities, maturing in 5, 10 or 30 years, with a coupon interest rate that is also fixed. The difference is that the principal itself is automatically adjusted based upon the CPI (Consumer Price Index). When inflation goes up, so does the principal. When inflation goes down, so does the principal. The coupon payout thus also goes up (or down) even though the interest rate is fixed. TIPS provide a relatively secure investment income, while stabilizing your principal.
In uncertain times, TIPS, or a TIPS ETF, can be a welcome addition to any investment portfolio. But it’s important to understand the associated tax implications. For a U.S. investor, any upward adjustment of principal is considered a gain, just like the coupon, and is taxed when it occurs, even though that principal increase is not fully received until maturity. In addition, it’s important to consider all possibilities. In today’s economy there are no guarantees, which means there’s no guarantee that inflation will go up.
NeoGenomics (NGNM) Inks $1M Licensing Agreement with Health Discovery (HDVY)
NeoGenomics Inc., a leading provider of cancer-focused genetic testing services, today announced that it has licensed the exclusive worldwide rights to use Health Discovery Corp.’s (HDC) intellectual property portfolio to develop laboratory developed tests (LDTs) and other products relating to hematopoietic and solid tumor cancers, excluding retina and breast cancer.
“Our agreement with HDC is an important strategic building block for NeoGenomics. We are executing well on the fundamentals of providing high-quality service, and have developed strong market-based partnerships with leading pathologists and clinicians. The ability to develop and successfully market innovative and proprietary genetic and molecular-based tests is an important third element of our strategy. This agreement provides the tools and resources necessary for NeoGenomics to execute on this essential strategic initiative,” Doug VanOort, chairman and CEO of NeoGenomics stated in the press release.
Per the agreement, NeoGenomics can develop and sell any gene, gene-product or protein-based LDT based on HDC’s technology. The agreement also gives NeoGenomics’ access to certain HDC personnel and consulting resources.
NeoGenomics paid $1 million in cash and issued 1,360,000 shares of common stock to HDC in upfront licensing fees. In addition, NeoGenomics will make milestone payments of $500,000 (up to $5 million) for every $2 million in revenue recognized by NeoGenomics based on products and services developed as a result of the licensing agreement. After NeoGenomics recognizes $20 million in cumulative revenue, NeoGenomics will pay a royalty of 6.5 percent on product sales and will share profits from sub-licensing arrangements.
VanOort said NeoGenomics will initially focus on development of LDTs for the detection of prostate, pancreatic and colon cancer. The company will also develop interpretation software targeted at automating cytogenetics and flow cytometry analysis.
“We have gained strong momentum in the marketplace over the past few quarters. Now, we are very focused on solidifying our gains and capitalizing on future opportunities available to us,
VanOort concluded. “With demographic changes in our country driving a significant increase in the prevalence of cancer and the possibilities offered by personalized medicine, it is an ideal time for us to invest even more in new genetic test development.”
For more information visit http://www.neogenomics.com
NEI (NEI) Revises Outlook for First Fiscal Quarter with Higher than Expected Revenues and Income
NEI, a leading provider of server-based application platforms, deployment solutions and lifecycle support services for software technology developers and OEMs worldwide, recently announced revised and improved expectations for the first fiscal quarter period ending December 31, 2011. Net revenues are expected to be $68 million to $70 million instead of $58 million to $63 million as originally provided in November. Net income should be around $1.3 million to $1.6 million, significantly higher than previous guidance of $500,000 to $1.0 million.
“In providing our December quarter guidance, we expected an impact of between $4.0 million and $5.0 million of revenues related to the unavailability of hard disk drives due to supply constraints tied to the Thailand flooding. Based on the extraordinary efforts of our supply chain team and our vendors, we were able to secure drives needed to realize most of these revenues. Additionally, some of our customers exceeded the volume estimates that we had projected for the December quarter, resulting in higher revenues. Our review of the quarter’s financial results is ongoing, and we will provide more detail on our conference call at the end of January,” said Greg Shortell, President and CEO, NEI in a press statement.
NEI, founded in 1997, provides solutions to companies looking to lessen the burden of all the complex and costly mix of technologies needed to keep pace in the fast moving world of telecommunications. It provides customers with design and engineering services that meet stringent industry and international compliance regulations. NEI systems can support customers who sell hundreds to thousands of platforms each year.
NEI expects to announce its fiscal results around the end of January as well as hold a management conference call to provide details regarding the company’s operating performance and financial outlook for the second fiscal quarter of 2012.
For more information, please visit www.nei.com
SciClone Pharmaceuticals, Inc. (SCLN) Updates 2011 Financials and Provides Initial Guidance for 2012
SciClone Pharmaceuticals, Inc. is a specialty pharmaceutical company with a substantial commercial business in China. Its product portfolio, of nearly 20 drugs sold in over 30 countries, includes therapies for oncology, infectious diseases, and cardiovascular, urological, respiratory, and central nervous system disorders.
The company today announced its anticipated full-year 2011 revenues and cash position. For 2011, SciClone anticipates revenues of approximately $134 million, including revenues from Nova Med Pharmaceuticals which was acquired in April 2011. This figure is a 57% increase over the 2010 level. The cash position as of December 31, 2011 is expected to be $66 million versus $57 million at the end of last year.
SciClone today also gave its initial guidance for revenues and cash position for the full-year 2012. The company expects 2012 sales revenue to come in between $165 million and $170 million. If management is correct, this would represent an approximately 25% increase over 2011. The company also anticipates its year-end cash position to be greater than $85 million, barring any further acquisitions.
The company stated that revenue gains were led by its very successful ZADAXIN product in China. This drug may be used for the treatment of hepatitus B and C, as a vaccine adjuvant, and as a treatment for certain cancers.
SciClone anticipates reporting its complete 2011 financial results and further 2012 guidance in early March. For more information about SciClone Pharmaceuticals, please visit the company’s website at www.sciclone.com
VistaGen Therapeutics (VSTA) Addresses Billion Dollar Weakness in Drug Development
On November 19, 2010, the U.S. Food & Drug Administration formally banned the sale on the American drug market of Darvon, a popular dextropropoxyphene made by Eli Lilly for pain relief. For many years Darvon had been a major player in the prescription analgesic market, and a significant income source for Eli Lilly, generating roughly $100 million in annual sales. The problem was that the use of Darvon had become associated with serious or fatal heart rhythms. Since 2010, other countries have taken steps to limit or ban the sale of Darvon, although the drug has been used by millions of people around the world.
The costly collapse of Darvon was yet another example of a drug gone bad from unanticipated issues of toxicity. The cost of doing all the things necessary to develop and bring a new drug to market can total more than $1 billion, and the unexpected late-stage appearance of toxicity problems can represent a tremendous financial blow to the developer, in addition to posing a threat to substantial user populations. If Lilly had been given some pre-release indication of the potential problems in the use of Darvon, it could have perhaps allowed the company to develop a safer modified version of the drug, saving untold financial resources and user anguish.
Moreover, a drug doesn’t even have to be taken off the market in order for toxicity concerns to prove toxic to the bottom line. The anti-diabetic drug Avandia, which had been generating well over $2 billion in annual sales for GlaxoSmithKline, has faced drastically reduced sales and a slew of lawsuits following reports associating rosiglitazone, the generic name, with an increased risk of heart attacks, even though later studies were unable to confirm the risk. The drug is still on the market, but with sales killing restrictions, and could still be suspended.
VistaGen Therapeutics has come up with what is believed to be the answer to this critical high-cost weakness in the drug development system. Through the use of advanced stem cell technology, VistaGen has developed a way to test the effects of drug candidates on human heart cells early in the development process. Traditional testing involving animals can fail to detect potential risks, and human trials can require large numbers of patients and lengthy testing with still no guarantee. VistaGen’s early testing process represents a huge advance in drug development, helping to identify problems before they turn into major human and financial casualties.
For additional information, visit the company’s website at www.VistaGen.com
Jamba, Inc. (JMBA) Issues Business Update
Jamba, Inc. issued a business report on the company’s activities in the United States, including updated financial and operational data.
Jamba confirmed that the company’s growth in same store sales for fiscal 2011 will be within the previously stated range of 2% to 4%, with a strong likelihood that this growth will be towards the high end of that range. The company also expects to achieve same store sales growth between 3% and 4% in fiscal 2012.
Jamba plans to expand the company’s store base in fiscal 2012, and open between 50 and 65 new store locations. These new stores will be spread across the company’s domestic and international store base.
Jamba announced the expansion of a supply chain distribution alliance with SYGMA, a foodservice distribution company with national capabilities. The updated agreement expands the marketing coverage to include Colorado and Texas. SYGMA is a wholly owned subsidiary of Sysco Corporation (SYY).
Jamba owns Jamba Juice Company, a restaurant chain that markets healthy beverages and food items on both a retail and wholesale basis. The company has 750 locations in the United States and 19 International locations as of January 2012.
For more information on the company, go to www.jambajuice.com
A123 Systems, Inc. (AONE) to Supply Battery Packs for Electric Trucks
Yesterday, A123 Systems announced that they would be supplying complete lithium ion battery packs to VIA Motors for use in VIA’s eREV Powertrain vehicles. The 24kWh batteries will power both an onboard motor and generator in the trucks, and will enable them to drive on all-electric power for up to 40 miles. VIA’s range of trucks, vans and SUVs, called VTRUX, all utilize the eREV Powertrain system.
A123 Systems is a developer and manufacturer of lithium ion batteries and other energy storage systems that are utilized in the transportation, electric grid and commercial industries. Initially developed at MIT, the company’s proprietary Nanophosphate technology is based on nanoscale materials that give their energy storage products high power and energy density along with extended battery life and increased safety.
Along with powering the vehicles, A123's batteries will function as exportable power sources and allow for the stored energy to be used externally. A123 has begun producing the new battery packs, while VIA has started delivering vehicles to commercial fleet customers.
Jason Forcier, vice president of A123’s Automotive Solutions Group, said, “We believe that the high power, greater usable energy and long life offered by our Nanophosphate lithium ion battery solutions will help VIA better position its eREV Powertrain platform as a cost-effective solution to maximize vehicle range and increase fuel economy. We think that commercial and government fleets represent a tremendous opportunity for vehicle electrification, and we look forward to working with VIA Motors to design eREV trucks, vans and SUVs that meet fleet customers’ needs for efficient, environmentally friendly vehicles that also satisfy their performance, range and reliability requirements.”
Kraig Higginson, CEO of VIA Motors, said, “VIA plans to ramp up production significantly over the next three years to satisfy demand for clean, fuel-efficient full-size trucks and SUVs. We selected A123’s Nanophosphate lithium ion battery systems because they are able to package higher power into a compact space in the vehicle.”
AdCare Health Systems, Inc. (ADK) Executes Purchase Agreement for Three Skilled Nursing Facilities in Arkansas
AdCare Health Systems, Inc., a leading nursing home and assisted living company, today announced the company has signed a definitive purchase agreement for three skilled nursing facilities in Arkansas for $27.3 million.
According to the press release, the acquisition is expected to be completed within the current quarter. The facilities have an aggregate of 439 beds and generate an estimated $22.2 million in gross annualized revenues. AdCare anticipates financing the acquisition with a traditional bank loan.
“Included in this portfolio is a 157 bed skilled nursing facility located in close proximity to a major Little Rock acute-care hospital,” stated Boyd Gentry, AdCare’s president and chief executive officer. “This facility has recently been completely renovated, which allows us to reposition it as a major provider of sub-acute services. We expect this strategy to generate a significant increase in revenues as we improve this facility’s occupancy with higher acuity patients. The other two facilities are ideally configured with a significant number of private rooms.”
Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer, commented, “This signing brings the total number of facilities we’ve put under contract to 54 since we began our current M&A program. With our M&A program and the integration of new facilities remaining our major focus in 2012, we continue to evaluate a number of opportunities that fit our acquisition strategy.”
Combining the company’s current annualized run-rate with transactions in the process of closing, the company’s estimated annualized revenue run-rate is projected to exceed $322 million. This would represent an increase of more than 500% over the company’s revenues last year, and an increase of more than 12 times revenues since AdCare initiated its M&A campaign in the fall of 2009.
Gentry added, “We have been targeting facilities in the Midwest and Southern states that have not traditionally concentrated on providing post-acute services. Then, once acquired, we have worked to increase Medicare census and occupancy, as well as optimize reimbursement and patient care. This strategy continues to yield results, as our team has been successful at increasing both higher acuity patients and associated reimbursement rates in excess of 25% versus pre-acquisition levels.”
AdCare expects to complete the acquisition of at least 23 additional facilities in the next three months: the three announced today, five facilities in Oklahoma and the company’s largest transaction to-date of 15 facilities across the Southeast.
BioDelivery Sciences (BDSI) and Endo (ENDP) Ink $180M Licensing and Development Agreement
BioDelivery Sciences International, a specialty pharmaceutical company focused on developing products in the areas of pain management and oncology supportive care, today announced it has signed a $180 million agreement with Endo Pharmaceuticals for worldwide exclusive rights to develop and commercialize BEMA Buprenorphine for the treatment of chronic pain.
BEMA Buprenorphine utilizes BioDelivery Sciences’ patented BioErodible MucoAdhesive (BEMA) technology to deliver the pain-reliving opiate drug.
Per the agreement, Endo will be responsible for the manufacturing, distribution, marketing and sales of BEMA Buprenorphine on a worldwide scale. Both companies will collaborate to organize the phase III clinical development program and regulatory strategy for BEMA Buprenorphine for chronic pain.
BioDelivery Sciences will be responsible for the conduct of planned clinical studies leading up to the submission of the New Drug Application (NDA), and Endo will pick up from there with the responsibility of submitting the NDA and managing the interactions with FDA.
The agreement is worth up to $180 million to BioDelivery Sciences if all milestones are met. Financial terms of the agreement include an upfront payment of $30 million; $95 million in commercial milestone payments based on achievement of pre-defined intellectual property, clinical development and regulatory events; $55 million in potential sales milestones upon achievement of designated sales levels; and a tiered mid to upper teen royalty on U.S. net sales of BEMA Buprenorphine.
Dr. Mark A. Sirgo, president and CEO of BioDelivery Sciences, praised Endo’s financial strength, market presence and focus in pain management.
Dave Holveck, president and CEO of Endo, noted BEMA Buprenorphine’s value to Endo’s product portfolio.
“Endo is committed to serving as an integrated solutions provider for the development and commercialization of products focused on the management of pain,” Holveck stated in the press release. “The addition of BEMA Buprenorphine will broaden Endo’s portfolio of pain therapeutics, allowing us to offer an integrated suite of products that currently includes Opana ER, Voltaren Gel and Lidoderm, as well as a broad range of generic pain products. We look forward to working closely with BDSI on the development of this important asset.”
For more information, visit http://www.bdsi.com
ESP Resources (ESPI) Deploys 6th Fracking Unit, Updates on Increased Revenue Stream
ESP Resources Inc., an oil and gas services company offering analytical services and essential custom-blended oil and gas well chemicals to improve production yields and overall efficiencies, today announced the deployment of its sixth chemical delivery fracking (hydraulic fracturing) unit and provided an update on continued revenue growth from its chemical delivery units.
Revenue from ESP’s fracking units business started in June of 2011 and the company says revenues are on track to exceed management’s original September 2011 estimates of $9.0 million in 2012. Fracking unit revenue is in addition to the company’s existing petrochemical production business.
The company expects continued growth based on new business with major existing customers and solid work flow.
“With the deployment of our sixth unit, we have not only boosted our fracking revenues and increased our 12-month forecast, but we have also increased our ability to capitalize on new business from some of our major oil & gas customers. We are pleased that this business segment is seeing healthy growth and expect this trend to continue. Given the amount of well completion work available now and that is anticipated going forward, we believe that we can maintain a continuous stream of deployment of these units on a long-term basis,” David Dugas, CEO of ESP stated in the press release.
ESP’s Guy, Arkansas, office is favorably located in the middle of the Fayetteville Shale in Northern Arkansas formation trend where the company can easily and economically supply the chemical units to any of the 21 counties where drilling activity is currently ongoing. ESP anticipates that current units will be used in the completion of wells in the Fayetteville Shale.
For more information, visit www.espchem.com
AdCare Health Systems, Inc. (ADK) Executes Purchase Agreement for Three Skilled Nursing Facilities in Arkansas
AdCare Health Systems, Inc., a leading nursing home and assisted living company, today announced the company has signed a definitive purchase agreement for three skilled nursing facilities in Arkansas for $27.3 million.
According to the press release, the acquisition is expected to be completed within the current quarter. The facilities have an aggregate of 439 beds and generate an estimated $22.2 million in gross annualized revenues. AdCare anticipates financing the acquisition with a traditional bank loan.
“Included in this portfolio is a 157 bed skilled nursing facility located in close proximity to a major Little Rock acute-care hospital,” stated Boyd Gentry, AdCare’s president and chief executive officer. “This facility has recently been completely renovated, which allows us to reposition it as a major provider of sub-acute services. We expect this strategy to generate a significant increase in revenues as we improve this facility’s occupancy with higher acuity patients. The other two facilities are ideally configured with a significant number of private rooms.”
Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer, commented, “This signing brings the total number of facilities we’ve put under contract to 54 since we began our current M&A program. With our M&A program and the integration of new facilities remaining our major focus in 2012, we continue to evaluate a number of opportunities that fit our acquisition strategy.”
Combining the company’s current annualized run-rate with transactions in the process of closing, the company’s estimated annualized revenue run-rate is projected to exceed $322 million. This would represent an increase of more than 500% over the company’s revenues last year, and an increase of more than 12 times revenues since AdCare initiated its M&A campaign in the fall of 2009.
Gentry added, “We have been targeting facilities in the Midwest and Southern states that have not traditionally concentrated on providing post-acute services. Then, once acquired, we have worked to increase Medicare census and occupancy, as well as optimize reimbursement and patient care. This strategy continues to yield results, as our team has been successful at increasing both higher acuity patients and associated reimbursement rates in excess of 25% versus pre-acquisition levels.”
AdCare expects to complete the acquisition of at least 23 additional facilities in the next three months: the three announced today, five facilities in Oklahoma and the company’s largest transaction to-date of 15 facilities across the Southeast.
ADK Executes Purchase Agreement for Three Skilled Nursing Facilities in Arkansas
AdCare Health Systems, Inc., a leading nursing home and assisted living company, today announced the company has signed a definitive purchase agreement for three skilled nursing facilities in Arkansas for $27.3 million.
According to the press release, the acquisition is expected to be completed within the current quarter. The facilities have an aggregate of 439 beds and generate an estimated $22.2 million in gross annualized revenues. AdCare anticipates financing the acquisition with a traditional bank loan.
“Included in this portfolio is a 157 bed skilled nursing facility located in close proximity to a major Little Rock acute-care hospital,” stated Boyd Gentry, AdCare’s president and chief executive officer. “This facility has recently been completely renovated, which allows us to reposition it as a major provider of sub-acute services. We expect this strategy to generate a significant increase in revenues as we improve this facility’s occupancy with higher acuity patients. The other two facilities are ideally configured with a significant number of private rooms.”
Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer, commented, “This signing brings the total number of facilities we’ve put under contract to 54 since we began our current M&A program. With our M&A program and the integration of new facilities remaining our major focus in 2012, we continue to evaluate a number of opportunities that fit our acquisition strategy.”
Combining the company’s current annualized run-rate with transactions in the process of closing, the company’s estimated annualized revenue run-rate is projected to exceed $322 million. This would represent an increase of more than 500% over the company’s revenues last year, and an increase of more than 12 times revenues since AdCare initiated its M&A campaign in the fall of 2009.
Gentry added, “We have been targeting facilities in the Midwest and Southern states that have not traditionally concentrated on providing post-acute services. Then, once acquired, we have worked to increase Medicare census and occupancy, as well as optimize reimbursement and patient care. This strategy continues to yield results, as our team has been successful at increasing both higher acuity patients and associated reimbursement rates in excess of 25% versus pre-acquisition levels.”
AdCare expects to complete the acquisition of at least 23 additional facilities in the next three months: the three announced today, five facilities in Oklahoma and the company’s largest transaction to-date of 15 facilities across the Southeast.
Car Charging Group, Inc. (CCGI) is “One to Watch”
Car Charging Group, Inc. is focused on advancing a clean, sustainable environment and an economically strong, energy-independent America. Headquartered in Miami, Florida, the company is one of the nation’s fastest growing providers of EV charging services. Car Charging Group aims to establish a nationwide infrastructure, enabling EV and Plug-in Hybrid Electric Vehicle (PHEV) owners to charge their EVs anytime, anywhere in North America, and ultimately Europe and Asia.
By utilizing a unique and highly attractive business model, Car Charging Group is able to provide and install charging stations at no cost to the business/property owner. By adding these stations, hosts are able to provide customers or constituents with the service of convenient car charging while simultaneously benefiting monetarily from a percentage of the revenue from the station. Offering car charging services has also been shown to help businesses grow market share by attracting new customers.
Car Charging Group currently has contractual, long-term relationships with 10 property owners that own more than 6.4 million parking spaces, and continues to secure contracts at key parking locations within highly populated urban areas. The company’s ChargePoint Network meets the needs of drivers, municipalities, electric utilities and government entities by providing a secure, safe, reliable way to charge their electric vehicles anywhere they park.
Over one million plug-in electric vehicles, such as the Nissan LEAF, Chevrolet Volt, Tesla Model S, Ford Focus EV as well as many others, are expected to be on the road in the U.S. by 2015 with estimates calling for more than 40 million electric vehicles worldwide in 2030. All of these cars have one thing in common: they have to be recharged regularly. Knowing that 40% of U.S. residences don’t even have a carport, much less a garage, and that electric vehicles have a very limited range, it is easy to see the tremendous growth potential of the rapidly expanding public car charging market.
Car Charging Group, Inc. (CCGI) Announces Partnership with S&P MidCap 400 Company to Install EV Charging Stations Nationwide
In recent news, Car Charging Group told investors that it has secured a partnership with Federal Realty Investment Trust (NYSE: FRT), a $5.6 billion dollar equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets, to install electric vehicle (EV) charging stations across the REIT’s portfolio of 18.6 million square feet of retail assets in strategically selected metropolitan markets in the Northeast, Mid-Atlantic and California.
“This is an exciting partnership as it further expands our nationwide EV charging network,” stated Brian Golomb, director of sales for Car Charging Group, Inc. “These are also high-profile properties, which will bring even further awareness to the importance of EVs in the evolving U.S. transportation system.”
At these locations, Car Charging Group will install Level II, 240-volt, EV charging stations with access to the ChargePoint® Network, the largest global online network connecting EV drivers to unoccupied charging stations. Customers will be provided with the ability to track usage patterns, energy use, costs and revenues, all via the ChargePoint Network’s cloud-based software. EV drivers benefit from ChargePoint mobile apps (iPhone, Blackberry and Android), mapping services and driver support services.
“Federal Realty is committed to running our business in a socially responsible manner that balances our consideration for the environment with creating long-term value for our shareholders,” said Mike Kelleher, director of asset management of Federal Realty. “The partnership with Car Charging Group to install EV charging stations is the next step in the continual greening of our operations, which already includes the creation of biofuels through recycled oil and grease waste from restaurants at our Bethesda Row mixed-use development, LEED certifications at many of our recent developments as well as numerous energy efficiencies and minimized usage of natural resource at a number of properties throughout the portfolio.”
Michael D. Farkas, CEO of Car Charging Group, commented, “Besides the obvious environmental benefits, a big advantage of electric cars will be the ability to conveniently fuel your vehicle when you’re already stopped somewhere on your daily routine. Because of its prime locations across the nation, Federal Realty’s unique retail and mixed use destinations serve as popular gathering places within the communities, making them perfect locations to top off your EV battery while you shop or dine.”
Targacept, Inc. (TRGT) Says AstraZeneca will Advance Alzheimer’s Drug
Targacept, Inc. currently has five mid-to-late-stage drug candidates using innovative NNR Therapeutics for difficult to treat diseases and disorders of the nervous system. NNR Therapeutics selectively modulates the activity of specific neuronal nicotinic receptors, which are unique proteins that regulate vital biological functions.
The company today reported AstraZeneca has informed Targacept that it plans to progress the development of Targacept’s product candidate AZD1446 as a treatment for Alzheimer’s disease. AZD1446 is a selective modulator of the alpha4beta2 neuronal nicotinic receptor that arose out of a research collaboration between the two companies.
The two companies signed a collaborative research and license agreement in 2005. Under terms of this agreement, AstraZeneca is responsible for conducting and funding the development and potential commercialization of AZD1446.
The next clinical trial of AZD1446 is expected to be a Phase 2 study as an adjunct treatment to donepezil in patients with mild to moderate Alzheimer’s disease. This study will complement the ongoing Phase 2b study of another of Targacept’s drugs, AZD3480, being used as a sole therapy for treatment of Alzheimer’s disease.
For further information about Targacept and its pipeline of drugs, please visit the company’s website at www.targacept.com
Albany Molecular Research Inc. (AMRI) and BioPontis Alliance LLC Enter Preferred Provider Agreement to Identify New Drug Opportunities
Albany Molecular Research Inc., an Albany based global contract services and manufacturing organization, announced today that it will work with BioPontis Alliance, LLC in a preferred provider agreement to support BioPontis’ mission to bridge the gap between early stage research and technologies that come out of academia and other research outlets. AMRI will provide its expertise in small molecule discovery, development, and manufacturing. The partnership is expected to help find promising early stage product opportunities and create a preferred network of leading research companies to help develop new drugs to attract pharmaceutical company licensing partners.
BioPontis has formed research alliances with a consortium of leading universities and research institutions as it searches for new science that can be translated into treatments for cancer, neurology, inflammation and infectious diseases. The partnerships for identifying new technology include New York University, Columbia University, Memorial Sloan-Kettering Cancer Center, University of Pennsylvania, University of North Carolina, University of Virginia, University of Kansas, Oregon Health and Sciences University, Thomas Jefferson University and the University of Florida. BioPontis has also established preferred partnerships with pharmaceutical companies such as Janssen Biotech, Pfizer and Merck.
“Building on the recently announced collaborations with the National Institutes of Health and others, the relationship with BioPontis Alliance is another example of AMRI’s leading ability to contribute significant value in the discovery and development of the medicines of the future. Given the outreach by a number of pharmaceutical companies to the outside for innovative new approaches to treating disease, the BioPontis Alliance may fill an important need for the industry in identifying new therapeutic agents and approaches to treating unmet medical needs,” said Thomas E. D’Ambra, Ph.D, Chairman, President and CEO, AMRI in a press statement.
Over the past twenty years, AMRI has worked in the US, Europe and Asia to provide customers with fully integrated drug discovery, development and manufacturing services. It utilizes a range of technologies and services to support the growth of both new and existing drug products. AMRI has also used its drug-discovery expertise for internal drug discovery programs.
“For many reasons, and after significant due diligence, AMRI was the obvious partner of choice. We look forward to working with AMRI and all of our partners in helping to advance some of the new medicines for the future,” said Richard A. Basile, CEO and Principal, BioPontis Alliance LLC in a press release.
Please visit www.amriglobal.com for more information on this preferred partnership.
Expanding Range of Markets for FluoroPharma Medical, Inc. (FPMI)
Fluoropharma Medical, developer of advanced medical diagnostic imaging products, sees an open-ended range of potential markets in its future, since many of the possibilities related to the advanced imaging technologies on which the company is focused have only begun to be explored.
FluoroPharma’s products support the fast growing PET (positron emission tomography) industry, a branch of nuclear medicine that produces a 3D image of previously hidden biological processes occurring within the body. Unlike most imaging tools, designed to reveal various structures inside the body, PET technology reveals processes at the cellular and even molecular level, providing a unique insight into potential diseases at the very earliest stages. Specifically, FluoroPharma develops critical molecular imaging agents that give PET the ability to track and register targeted processes. Today the market for molecular imaging agents exceeds $1.7 billion annually.
FluoroPharma’s immediate focus is on imaging agents used for the detection of acute and chronic forms of coronary artery disease (CAD). Coronary artery disease affects more than 13 million patients in the U.S. alone, accounting for more than 30% of all deaths. The current need is for faster and more accurate diagnostic tools for the detection and assessment of acute and chronic CAD. Molecular imaging is currently used in more than 9 million myocardial perfusion imaging (MPI) procedures, the standard test for diagnosing CAD.
But there are now a number of other emerging opportunities for the application of PET technology. A good example is Alzheimer’s disease, already afflicting over 5 million Americans, with cases expected to grow dramatically as the population ages. Right now there is no single diagnostic test to confirm that a person even has Alzheimer’s. FluoroPharma is developing new options for early detection and treatment of the disease to improve patient care and create new paths for its management. In addition, the company is coming up with new compounds to enable the early and accurate diagnosis of prostate cancer, the most frequently diagnosed and most lethal malignancy among men in the U.S.
FluoroPharma’s broad technology platform was developed by scientists at the Massachusetts General Hospital and Harvard Medical School. The company has four issued U.S. patents, with seven pending applications, together with strong international protection. FluoroPharma also pursues opportunities to license new PET technologies from individuals and institutions.
For more information, see the company website at www.FluoroPharma.com
Expanding Range of Markets for FluoroPharma Medical, Inc. (FPMI)
Fluoropharma Medical, developer of advanced medical diagnostic imaging products, sees an open-ended range of potential markets in its future, since many of the possibilities related to the advanced imaging technologies on which the company is focused have only begun to be explored.
FluoroPharma’s products support the fast growing PET (positron emission tomography) industry, a branch of nuclear medicine that produces a 3D image of previously hidden biological processes occurring within the body. Unlike most imaging tools, designed to reveal various structures inside the body, PET technology reveals processes at the cellular and even molecular level, providing a unique insight into potential diseases at the very earliest stages. Specifically, FluoroPharma develops critical molecular imaging agents that give PET the ability to track and register targeted processes. Today the market for molecular imaging agents exceeds $1.7 billion annually.
FluoroPharma’s immediate focus is on imaging agents used for the detection of acute and chronic forms of coronary artery disease (CAD). Coronary artery disease affects more than 13 million patients in the U.S. alone, accounting for more than 30% of all deaths. The current need is for faster and more accurate diagnostic tools for the detection and assessment of acute and chronic CAD. Molecular imaging is currently used in more than 9 million myocardial perfusion imaging (MPI) procedures, the standard test for diagnosing CAD.
But there are now a number of other emerging opportunities for the application of PET technology. A good example is Alzheimer’s disease, already afflicting over 5 million Americans, with cases expected to grow dramatically as the population ages. Right now there is no single diagnostic test to confirm that a person even has Alzheimer’s. FluoroPharma is developing new options for early detection and treatment of the disease to improve patient care and create new paths for its management. In addition, the company is coming up with new compounds to enable the early and accurate diagnosis of prostate cancer, the most frequently diagnosed and most lethal malignancy among men in the U.S.
FluoroPharma’s broad technology platform was developed by scientists at the Massachusetts General Hospital and Harvard Medical School. The company has four issued U.S. patents, with seven pending applications, together with strong international protection. FluoroPharma also pursues opportunities to license new PET technologies from individuals and institutions.
Expanding Range of Markets for FPMI
Fluoropharma Medical, developer of advanced medical diagnostic imaging products, sees an open-ended range of potential markets in its future, since many of the possibilities related to the advanced imaging technologies on which the company is focused have only begun to be explored.
FluoroPharma’s products support the fast growing PET (positron emission tomography) industry, a branch of nuclear medicine that produces a 3D image of previously hidden biological processes occurring within the body. Unlike most imaging tools, designed to reveal various structures inside the body, PET technology reveals processes at the cellular and even molecular level, providing a unique insight into potential diseases at the very earliest stages. Specifically, FluoroPharma develops critical molecular imaging agents that give PET the ability to track and register targeted processes. Today the market for molecular imaging agents exceeds $1.7 billion annually.
FluoroPharma’s immediate focus is on imaging agents used for the detection of acute and chronic forms of coronary artery disease (CAD). Coronary artery disease affects more than 13 million patients in the U.S. alone, accounting for more than 30% of all deaths. The current need is for faster and more accurate diagnostic tools for the detection and assessment of acute and chronic CAD. Molecular imaging is currently used in more than 9 million myocardial perfusion imaging (MPI) procedures, the standard test for diagnosing CAD.
But there are now a number of other emerging opportunities for the application of PET technology. A good example is Alzheimer’s disease, already afflicting over 5 million Americans, with cases expected to grow dramatically as the population ages. Right now there is no single diagnostic test to confirm that a person even has Alzheimer’s. FluoroPharma is developing new options for early detection and treatment of the disease to improve patient care and create new paths for its management. In addition, the company is coming up with new compounds to enable the early and accurate diagnosis of prostate cancer, the most frequently diagnosed and most lethal malignancy among men in the U.S.
FluoroPharma’s broad technology platform was developed by scientists at the Massachusetts General Hospital and Harvard Medical School. The company has four issued U.S. patents, with seven pending applications, together with strong international protection. FluoroPharma also pursues opportunities to license new PET technologies from individuals and institutions.
Stonegate Securities 20-page ADK Company Report
http://adk.missionir.com/Stonegate_Report_12-15.pdf
Athersys, Inc. (ATHX) Awarded Patent Protection for MultiStem Product Platform, adding to Current IP Portfolio
Clinical stage biopharmaceutical company Athersys Inc. today announced it has been granted a patent that covers the company’s proprietary cell therapy product, MultiStem®.
MultiStem is an investigational stem cell therapy with demonstrated therapeutic potential to treat a broad range of indications in the cardiovascular, neurological, and inflammatory and immune condition disease areas.
The patent covers the use of non-embryonic multipotent stem cells for the treatment of cardiovascular conditions, including heart attack and congestive heart failure. The patent also provides protection for several techniques of stem cell delivery for the treatment of such conditions.
“Cardiovascular disease represents an important opportunity area for MultiStem therapy, and the ’881 patent provides the company with additional protection for its product candidates in this high value area,” William (B.J.) Lehmann, president and COO of Athersys stated in the press release. “Additionally, this and the other patents granted over the past year further expand and strengthen our stem cell intellectual property estate.”
In 2011, Athersys was issued more than 25 patents in the U.S. and other countries. These patents cover non-embryonic multipotent stem cells, as well as their production and usage. Athersys also announced the issuance in 2011 of more than 25 patents in the U.S. and other countries covering non-embryonic multipotent stem cells, their production, and usage.
Athersys’ intellectual property portfolio consists of more than 50 granted patents and more than 160 global patent applications around its stem cell technology and MultiStem product platform.
For more information, visit www.athersys.com
Ampio Pharmaceuticals, Inc. (AMPE) Completes Expanded Patient Enrollment for Study of Anti-inflammatory Candidate
Ampio Pharmaceuticals, Inc., a company that discovers and develops new uses for previously approved drugs and new molecular entities (NMEs), today announced it has completed the expanded patient enrollment phase of its Ampion™ In Knee (AIK) trials in Australia, adding 42 patients to the original 60-patient study.
Ampion is the company’s non-steroidal anti-inflammatory drug that appears to have a significant role in the homeostasis of inflammation. Ampio believes this gives the drug the potential to be used in a broad array of inflammatory conditions.
Ampio Chief Regulatory Officer Dr. Vaughan Clift noted the importance of the initial clinical trial, which led to the approval of the expanded trial.
“The initial trial was an important clinical milestone for the company as it was the first time that Ampion was administered as a treatment for an inflammatory condition in humans and was well tolerated with no reported treatment related adverse events. Details of the initial trial can be found on the Australian clinical trials register at http://www.anzctr.org.au/trial_view.aspx?ID=343138. The absence of any adverse events in the initial AIK study provided the basis for IRB approval of this expanded trial, with 42 additional patients, each receiving either a direct intra-articular injection of Ampion or the saline placebo,” Dr. Clift stated in the press release.
Ampio Chief Scientific Officer Dr. Bar-Or discovered the Ampion molecule during his study of patients with immune suppression following head injury. He has published numerous scientific papers on the drug’s immune modulating effect in vitro in prominent scientific journals and has also presented his findings at national and international scientific meetings.
“We are hopeful this naturally occurring molecule may provide safe and effective pain relief in humans,” Dr. Bar-Or stated. “Medical treatment of chronic pain would be improved if physicians were able to prescribe an effective analgesic/anti-inflammatory medicine without the damaging side effects associated with steroids, such as infection, ruptured tendons and weakening of joints when injected locally.”
The raw clinical data from the trial is now being evaluated by biostatisticians employed by the Clinical Research Organization with results expected in the next four to six weeks.
For more information, visit www.ampiopharma.com
Navidea Biopharmaceuticals, Inc. (NAVB) is “One to Watch”
Navidea Biopharmaceuticals, Inc., formerly Neoprobe Corp., is a biopharmaceutical company focused on the development and commercialization of precision radiopharmaceutical diagnostics for diseases such as cancer.
The company’s recently announced name change (effective Jan. 5, 2012) reflects the company’s focus on the precision diagnostics space where it will pursue development of innovative technology into products to advance patient care. Continued efforts will center on obtaining approval and commercialization of Lymphoseek® and on the development of RIGScan™, the company’s two radiopharmaceutical agent platforms.
Navidea’s plan of action is to move forward with development opportunities, including in-licensing and acquisition of other promising agents. The company recently in-licensed exclusive worldwide rights from AstraZeneca for AZD4694, the company’s drug candidate for aiding in the diagnosis of Alzheimer’s disease.
Key Investment Highlights
• Strategic in-licensing plan positions company for growth and expansion of its precision radiopharmaceutical pipeline
• Rebranding strategy permits greater management and resource focus on substantial opportunity for growth and increased stockholder value
• Methodical plan to grow its pharmaceutical business and capitalize on radiopharmaceuticals, with industry sales forecast to grow to $5.4 billion by 2015
FluoroPharma Medical, Inc. (FPMI) Announces Appointment of Lawrence Atinsky to Board of Directors
FluoroPharma Medical, a biopharmaceutical company providing proprietary PET imaging products to evaluate cardiac disease at the cellular and molecular levels, announced that it has appointed Lawrence Atinsky to its Board of Directors. The appointment is effective January 3, 2012.
Mr. Atinsky has worked closely with a number of biotechnology companies over the past ten years, helping them execute their strategic growth plans, and is currently a partner at Ascent Biomedical Ventures. Ascent is a venture capital firm targeting early stage biomedical technology companies developing medical devices, biopharmaceuticals, healthcare services, and information technology. Prior to joining Ascent, Mr. Atinsky was an attorney at Skadden Arps where he specialized in mergers and acquisitions.
FluoroPharma President and CEO, Thijs Spoor, commented on the appointment: “I am delighted to welcome Lawrence to the FluoroPharma Board. His legal background, along with his extensive biotech business experience, brings invaluable knowledge and will complement the considerable expertise of the Board.”
FluoroPharma’s focus is the development of breakthrough positron emission tomography (PET) imaging agents for the efficient detection and assessment of acute and chronic forms of coronary artery disease. The goal is to enable personalized medicine through advanced imaging products that will help the medical community diagnose disease more accurately at the earliest stages, leading to more effective treatment, management, and better patient outcomes. The company is currently advancing two products in clinical trials for assessment of acute and chronic forms of coronary disease. Other products in development include agents for detection of inflamed atherosclerotic plaque in peripheral arteries, agents with the potential to image Alzheimer’s disease, and agents that could potentially be used for imaging specific cancers.
AdCare Health Systems, Inc. (ADK) Announces Acquisition of Skilled Nursing and Assisted Living Center for $12.5 Million
AdCare Health Systems, Inc., a rapidly growing nursing home and assisted living company, announced the completion of the previously announced agreement to purchase a skilled nursing and assisted living community in Ohio. The final purchase price totaled $12.5 million, $1.0 million less than the initial purchase agreement.
The community has 179 beds in service and generates approximately $12 million in gross annualized revenues according to its most recent financials. The addition of this skilled nursing and assisted living center is expected to be immediately accretive to AdCare’s earnings.
This transaction brings the total number of facilities AdCare’s purchased, leased, or managed to 44 facilities since its M&A campaign began in the fall of 2009, with more than 3,900 beds in service.
The company told investors that it intends to continue pursuing an aggressive M&A program. Combining its current annualized run-rate with transactions in the process of closing, AdCare’s estimated annualized revenue run-rate is expected to exceed $300 million. This would represent an increase of more than 460% over the company’s revenues in 2010, and an increase of more than 11 times revenues since initiating its M&A campaign in the fall of 2009.
“After expanding our operations to Alabama, Arkansas, Georgia, North Carolina and Oklahoma, with this acquisition we’ve built upon our home base in Ohio,” stated Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer. “These new facilities will leverage the professional support staff we’ve long maintained in the state, as well as enhance our overall economies of scale.”
“We’re continuing to evaluate a number of attractive opportunities in the Midwest, as well as in the Southwest and Southeast with our M&A program and the integration of new facilities remaining our primary focus going forward,” continued Brogdon.
Boyd P. Gentry, AdCare’s president and chief executive officer, stated, “Our strategy of acquiring skilled nursing facilities is proving highly successful, not only in our closing rate and terms, but especially in our post-acquisition performance. We have been targeting facilities that have not traditionally concentrated on providing post-acute services, and then once acquired, we increase Medicare census and occupancy, as well as optimize reimbursement and patient care.”
“Historically, it takes our operations team a year to 15 months to fully harvest this opportunity in an individual facility,” added Boyd. “This means we still have optimization opportunities in our current portfolio, and significant upside exists in our pending acquisition pipeline.”
AdCare finished last year with 29 new facilities placed under contract, and the acquisition of 18 facilities completed. The company expects to complete the acquisition of at least 20 more in the next three months, including five facilities in Oklahoma and the company’s largest transaction to-date of 15 facilities across the Southeast.
iCAD, Inc. (ICAD) Secures $15 Million to Strengthen Cash Position
iCAD, Inc., an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, announced earlier today that it has executed a five year, $15 million debt facility agreement with Deerfield Management Company LP, a leading healthcare investment fund. As terms of the Agreement, the company will issue a $15 million principal amount senior secured 5.75% note; enter into a revenue purchase agreement; and issue warrants to purchase 2,250,000 shares of iCAD Common Stock, plus an additional 500,000 shares of common stock if the Agreement is extended.
“We are pleased to enter into this transaction with Deerfield Management. This financing immediately strengthens iCAD’s cash position and enables the company to focus on achieving its long-term objectives for growth and expansion,” stated Ken Ferry, President and CEO of iCAD. “We are confident iCAD is now in a strong position to grow our business, including the rollout of our new intra-operative radiation therapy (IORT) technology for early stage cancer treatment, as we pursue our strategic goal to be a leader in image analysis, workflow and radiation therapy solutions for early stage cancer.”
“We see significant opportunity in iCAD based on its broad portfolio of innovative products addressing early stage cancer, from detection to treatment and therapy monitoring. iCAD’s strong customer base, along with the company’s potential to establish a leadership position in new developing markets, makes iCAD an attractive investment for our firm,” commented Howard P. Furst, MD, Partner, Deerfield Management.
Stock Market Holidays in 2012
We hope all our readers had a wonderful holiday season. As you know, the stock market was closed a couple days in observation of Christmas and New Year’s Day. Let’s take a look at other days this year the stock market will be closed.
• January 16 – Martin Luther King, Jr. Day
• February 20 – Presidents’ Day
• April 6 – Good Friday
• May 28 – Memorial Day
• July 4 – Independence Day
• September 3 – Labor Day
• November 22 – Thanksgiving
• December 25 – Christmas
Also, the exchanges have a tradition of closing early at 1:00 EST on the Friday following Thanksgiving.
VistaGen Therapeutics (VSTA) Makes Good Use of Strategic Partnerships
VistaGen Therapeutics, a biotechnology company focused on using human stem cell technology for drug rescue and cell therapy, has been proactive in seeking strategic partnerships with other companies and research teams, all in an effort to facilitate the creation of an innovative drug discovery and drug rescue ecosystem.
VistaGen, with its stem cell technology platform designed to enable drug companies to save hundreds of millions of dollars in the drug development process by providing clinically relevant heart safety data earlier than traditional approaches, has gone out of its way to cultivate long term research and business collaborations, permitting the company to strengthen its core competencies and incorporate new ones. By strategically leveraging the capabilities of partners, VistaGen is constantly on top of the latest developments in the fast changing stem cell industry. VistaGen has always welcomed partnering requests, technology licensing offers, and other collaborative proposals.
Among VistaGen’s most notable current collaborative relationships are a stem cell research and development arrangement with Dr. Gordon Keller’s laboratory at Toronto’s University Health Network, a medicinal chemistry alliance with Synterys, and a regulatory and drug development agreement with Cato Research:
• University Health Network (UHN) is one of Canada’s largest research hospitals. Dr. Gordon Keller, among the world’s leading stem cell scientists and director of UHN’s McEwen Centre for Regenerative Medicine, is one of the co-founders of VistaGen and currently serves as Chairman of the company’s Scientific Advisory Board. Through a broad stem cell alliance of collaborative research, VistaGen, UHN, and Dr. Keller are advancing five key stem cell programs that support VistaGen’s core drug rescue initiatives and potential cell therapy applications.
• Synterys is an international medicinal chemistry and collaborative drug discovery services company headquartered near VistaGen in the San Francisco Bay Area. VistaGen’s strategic alliance with Synterys directly supports drug rescue applications of its Human Clinical Trials in a Test Tube™ platform. Synterys’ medicinal chemistry expertise will be a key component of VistaGen’s drug rescue activities focused on generating a pipeline of new chemical variants (drug rescue variants) of once-promising small molecule drug candidates discontinued in preclinical development due to heart safety concerns.
• Cato Research is a global contract research and development organization (CRO) with extensive experience implementing and conducting clinical trials and drug development programs, including highly-regarded regulatory expertise.
The current drug development approach to heart toxicity evaluation, based upon animal and in vitro cell culture tests, can only approximate human biology. VistaGen’s versatile stem cell technology platform uses pluripotent stem cells to create novel human cell-based bioassay systems for superior predictive toxicology, drug discovery, drug rescue, and cell therapy applications.
For additional information, visit VistaGen’s website at www.VistaGen.com
AdCare Health Systems, Inc. (ADK) Announces Acquisition of Skilled Nursing and Assisted Living Center for $12.5 Million
AdCare Health Systems, Inc., a rapidly growing nursing home and assisted living company, announced the completion of the previously announced agreement to purchase a skilled nursing and assisted living community in Ohio. The final purchase price totaled $12.5 million, $1.0 million less than the initial purchase agreement.
The community has 179 beds in service and generates approximately $12 million in gross annualized revenues according to its most recent financials. The addition of this skilled nursing and assisted living center is expected to be immediately accretive to AdCare’s earnings.
This transaction brings the total number of facilities AdCare’s purchased, leased, or managed to 44 facilities since its M&A campaign began in the fall of 2009, with more than 3,900 beds in service.
The company told investors that it intends to continue pursuing an aggressive M&A program. Combining its current annualized run-rate with transactions in the process of closing, AdCare’s estimated annualized revenue run-rate is expected to exceed $300 million. This would represent an increase of more than 460% over the company’s revenues in 2010, and an increase of more than 11 times revenues since initiating its M&A campaign in the fall of 2009.
“After expanding our operations to Alabama, Arkansas, Georgia, North Carolina and Oklahoma, with this acquisition we’ve built upon our home base in Ohio,” stated Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer. “These new facilities will leverage the professional support staff we’ve long maintained in the state, as well as enhance our overall economies of scale.”
“We’re continuing to evaluate a number of attractive opportunities in the Midwest, as well as in the Southwest and Southeast with our M&A program and the integration of new facilities remaining our primary focus going forward,” continued Brogdon.
Boyd P. Gentry, AdCare’s president and chief executive officer, stated, “Our strategy of acquiring skilled nursing facilities is proving highly successful, not only in our closing rate and terms, but especially in our post-acquisition performance. We have been targeting facilities that have not traditionally concentrated on providing post-acute services, and then once acquired, we increase Medicare census and occupancy, as well as optimize reimbursement and patient care.”
“Historically, it takes our operations team a year to 15 months to fully harvest this opportunity in an individual facility,” added Boyd. “This means we still have optimization opportunities in our current portfolio, and significant upside exists in our pending acquisition pipeline.”
AdCare finished last year with 29 new facilities placed under contract, and the acquisition of 18 facilities completed. The company expects to complete the acquisition of at least 20 more in the next three months, including five facilities in Oklahoma and the company’s largest transaction to-date of 15 facilities across the Southeast.
ADK Announces Acquisition of Skilled Nursing and Assisted Living Center for $12.5 Million
AdCare Health Systems, Inc., a rapidly growing nursing home and assisted living company, announced the completion of the previously announced agreement to purchase a skilled nursing and assisted living community in Ohio. The final purchase price totaled $12.5 million, $1.0 million less than the initial purchase agreement.
The community has 179 beds in service and generates approximately $12 million in gross annualized revenues according to its most recent financials. The addition of this skilled nursing and assisted living center is expected to be immediately accretive to AdCare’s earnings.
This transaction brings the total number of facilities AdCare’s purchased, leased, or managed to 44 facilities since its M&A campaign began in the fall of 2009, with more than 3,900 beds in service.
The company told investors that it intends to continue pursuing an aggressive M&A program. Combining its current annualized run-rate with transactions in the process of closing, AdCare’s estimated annualized revenue run-rate is expected to exceed $300 million. This would represent an increase of more than 460% over the company’s revenues in 2010, and an increase of more than 11 times revenues since initiating its M&A campaign in the fall of 2009.
“After expanding our operations to Alabama, Arkansas, Georgia, North Carolina and Oklahoma, with this acquisition we’ve built upon our home base in Ohio,” stated Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer. “These new facilities will leverage the professional support staff we’ve long maintained in the state, as well as enhance our overall economies of scale.”
“We’re continuing to evaluate a number of attractive opportunities in the Midwest, as well as in the Southwest and Southeast with our M&A program and the integration of new facilities remaining our primary focus going forward,” continued Brogdon.
Boyd P. Gentry, AdCare’s president and chief executive officer, stated, “Our strategy of acquiring skilled nursing facilities is proving highly successful, not only in our closing rate and terms, but especially in our post-acquisition performance. We have been targeting facilities that have not traditionally concentrated on providing post-acute services, and then once acquired, we increase Medicare census and occupancy, as well as optimize reimbursement and patient care.”
“Historically, it takes our operations team a year to 15 months to fully harvest this opportunity in an individual facility,” added Boyd. “This means we still have optimization opportunities in our current portfolio, and significant upside exists in our pending acquisition pipeline.”
AdCare finished last year with 29 new facilities placed under contract, and the acquisition of 18 facilities completed. The company expects to complete the acquisition of at least 20 more in the next three months, including five facilities in Oklahoma and the company’s largest transaction to-date of 15 facilities across the Southeast.
FPMI Announces Appointment to Board of Directors
FluoroPharma Medical, a biopharmaceutical company providing proprietary PET imaging products to evaluate cardiac disease at the cellular and molecular levels, announced that it has appointed Lawrence Atinsky to its Board of Directors. The appointment is effective January 3, 2012.
Mr. Atinsky has worked closely with a number of biotechnology companies over the past ten years, helping them execute their strategic growth plans, and is currently a partner at Ascent Biomedical Ventures. Ascent is a venture capital firm targeting early stage biomedical technology companies developing medical devices, biopharmaceuticals, healthcare services, and information technology. Prior to joining Ascent, Mr. Atinsky was an attorney at Skadden Arps where he specialized in mergers and acquisitions.
FluoroPharma President and CEO, Thijs Spoor, commented on the appointment: “I am delighted to welcome Lawrence to the FluoroPharma Board. His legal background, along with his extensive biotech business experience, brings invaluable knowledge and will complement the considerable expertise of the Board.”
FluoroPharma’s focus is the development of breakthrough positron emission tomography (PET) imaging agents for the efficient detection and assessment of acute and chronic forms of coronary artery disease. The goal is to enable personalized medicine through advanced imaging products that will help the medical community diagnose disease more accurately at the earliest stages, leading to more effective treatment, management, and better patient outcomes. The company is currently advancing two products in clinical trials for assessment of acute and chronic forms of coronary disease. Other products in development include agents for detection of inflamed atherosclerotic plaque in peripheral arteries, agents with the potential to image Alzheimer’s disease, and agents that could potentially be used for imaging specific cancers.
Kratos Defense & Security Solutions, Inc. (KTOS) Recognized for Masterful Herley Acquisition, Growing Dominance in Engineering/Manufacturing National Security Solutions
Kratos, continues to gain dominance in the field of highly specialized national security technology and providing a complete mission critical products/services envelope, reporting today successful nomination for two separate, influential awards in IT and middle marketing for the recent Herley Industries, Inc. acquisition at the 10th Annual M&A Advisor Awards Gala, held at the New York Athletic Club, NY this Dec. 13.
Senior Markets Desk Reporter for Bloomberg, Julie Hyman, hosted the event, where both award nominations were conferred upon KTOS simultaneously for the Herley deal, seen by many as a real masterstroke:
2012 Information Technology Award – $100M and over
2011 Middle Market Deal of the Year – $250-400M
Herley’s infrastructural competencies extend KTOS’s own striking distance beautifully, bringing the industry-leading design, development and manufacturing expertise in defense/aerospace microwave technology for which Herley is known, to the table alongside the Company’s own deep proficiencies in manufacturing and engineering related to National Security platforms/programs.
Herley already has solid footing in a variety of key US national security related programs/platforms and the acquisition of this Woburn, MA-based shop adds robust vectors to KTOS’s seven-facility manufacturing (~1k employee) Weapons Systems Solutions Division, into which the acquisition was integrated.
Great news for KTOS, following fast on the heels of the announcement Dec. 12, that the Company was recognized at this year’s M&A Advisor Deals of the Decade Celebration at the Museum of American Finance, with the 2009 Turnaround of the Year Award.
President and CEO of KTOS, Eric DeMarco, beamed with enthusiasm at being recognized once more by the prestigious M&A Advisor Awards, recognition which boldly underlines the outstanding success of KTOS’s M&A Team, as well as the integration team which spearheads such momentum building acquisitions. DeMarco pointed to this clear recognition of the Company’s “continued execution” of the strategic business plan to create the “C5ISR focused engineering, technology and specialty products based National Security Solutions provider in the industry.”
Senior VP of the Strategy and Corporate Development Division at KTOS, James Cotter, echoed this enthusiasm and detailed the exceptional microwave/specialty platforms experience Herley ads to the mix, pointing to growing dependence on such capabilities by a number of critical US infrastructure like the EA-18G Electronic Attack Aircraft and a host of other Ballistic Missile Defense Programs.
For more information on the nominations/awards or for more information on Kratos Defense & Security Solutions, Inc. and the Company’s numerous engineering and technical capabilities in a spectrum of high security cleared environments, or on the Herley acquisition itself, please visit the Company’s website at: www.KratosDefense.com
JA Solar Holdings Co., Ltd., (JASO) Announces Exclusive Deal To Supply 19 MW Solar Modules For Utility Scale Solar Power Project In Germany
JA Solar Holdings Co. Ltd, one of the world’s largest manufacturers of high-performance solar cells and solar power products, today announced an exclusive deal with Solarhybrid AG (SHL) a Germany-based project developer and general contractor for turn-key utility-scale solar power projects, to supply 19 MW of high-efficiency solar modules to the Allstedt I solar power plant in Halle, Germany. The Allstedt I power plant should generate 19,030,000 kWh of electricity annually by the end of this year when it is connected to the grid. The project will also reduce CO2 emissions by 266,381 tons over its expected 20 years of service.
“We are delighted to work with Solarhybrid as the exclusive module supplier to the Allstedt I solar power project,” said Dr. Peng Fang, CEO, JA Solar in a recent press release. “As this project demonstrates, demand and support for solar energy are strong in Germany. We look forward to working closely with Solarhybrid to ensure the success of this project and to take advantage of future growth opportunities in Germany and beyond.”
Since 2005, JA Solar has manufactured high-performing solar power products to sell worldwide and in 2010 established itself as the world leader in solar cell production shipping 1.46 GW over the course of the year. Revenues for 2010 totaled $1.78 billion up 211% from 2009. JA Solar was first in terms of solar cells produced and shipped globally in Q3 2010 according to reports published in SolarBuzz and IMS Research.
“Following a stringent supplier selection process, we are very pleased to choose JA Solar, a proven provider of industry leading solar products, as our partner for this project. JA Solar’s cost-effective, high-efficiency solutions will enable us to maximize the return on investment in this project. With JA Solar’s support, we look forward to opening the Allstedt I power plant by end of this year,” said Tom Schroder, CEO, Solarhybrid in the press release.
JA Solar ships its solar power products to solar manufacturers who assemble and integrate the solar cells into modules and systems designed to convert sunlight into electricity for utility-scale power generation. The Solarhybrid deal is expected to reach approximately 40 MW of total modules shipped by 2011 which includes the 19MW to be used for the Allstedt I project.
For more information, please visit www.jasolar.com and www.solarhybrid.ag