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BSD Medical Corp. (BSDM) Increases Interest in Ablation Treatment MicroThermX (R) as Therapy for Cancer at European Medical Conference
BSD Medical Corp., a leading provider of medical systems that utilize heat therapy to treat cancer, announced that the MicroThermX (R) Microwave Ablation System is continuing to receive positive feedback in medical conventions across the world. At the Cardiovascular and Interventional Radiological Society of Europe (CIRSE) annual meeting held September 10-14 in Munich, Germany, the MicroThermX (R) system was showcased in the CIRSE exhibit space for over 5,000 clinicians from 70 countries in the field of interventional radiology. A BSD ablation engineer revealed that the microwave antennas used in this product can sharply decrease the danger of skin burn as compared to other asynchronous ablations.
The MicroThermX(R) Microwave Ablation System uses an innovative compact design of a microwave generator, single-patient-use disposable antennas and a thermistor-based temperature monitoring system to deliver high power levels of ablation during a single procedure. The MicroThermX(R) utilizes innovative synchronous phased array technology that was developed and patented by BSD. The global market potential for soft tissue ablation has been estimated to exceed $2.3 billion, offering a significant opportunity for BSD Medical.
“The CIRSE meeting was effectively used to further develop the Company’s association with international key opinion leaders, many of whom requested demonstrations of the MicroThermX(R),” stated Steven Smith, VP for Marketing and Business Development for BSD in a press release on Thursday. “The increasing clinical interest in the MicroThermX(R) was evident by a constant stream of interested clinicians and medical distributors from around the world.”
Microwave ablation is the most recent development in the field of tumor ablation and allows for a flexible approach to tumor treatment that uses imaging guidance to localize the tumor for placement of a thin microwave antenna directly into the tumor. The microwave generator emits an electromagnetic wave that agitates water molecules in the surrounding tissue, producing friction and heat, thus killing the cells. The main advantages of the microwave technology include larger tumor ablation volumes, faster ablation times and an improved convection profile. Microwave ablation has promising potential in the treatment of primary and secondary liver disease, primary and secondary lung malignancies, renal and adrenal tumors, and bone metastases.
For more information on BSD Medical, please visit www.BSDMedical.com
STAAR Surgical Co. (STAA) Updates on Product Launch, Participation in 2011 Congress of European Society of Cataract and Refractive Surgeons
STAAR Surgical Company, a leading developer of minimally invasive ophthalmic products, today detailed is activities scheduled before and during the 2011 Congress of European Society of Cataract and Refractive Surgeons (ESCRS) this weekend, during which the company will officially launch two key products in Europe and other countries that accept CE Mark approvals.
The Congress will be held in Vienna, Austria, September 17 through 21, 2011. STAAR will launch its Visian Implantable Collamer® Lens (ICL) with CentraFLOW™ technology, which utilizes the KS-AquaPORT™, and the nanoFLEX™ IOL, both of which the company received CE Mark approval for in April 2011.
Beginning tomorrow, STAAR will hold its 8th Annual Visian ICL Experts Symposium. The company said it anticipates more than 100 surgeons from 34 countries to attend the “by invitation only” roundtable discussion sessions on the Visian ICL technology.
Hans Blickensdoerfer, president of Europe and Latin America for STAAR, said the meeting not only represents the official unveiling of its key products, but is also a celebration of a recent significant achievement.
“We anticipate this will be the most exciting and productive ESCRS meeting in our history,” Blickensdoerfer stated in the press release. “We will be celebrating the key milestone of over a quarter of a million successful Visian ICL implants at the same time we are introducing the new Visian ICL with CentraFLOW technology.”
Blickensdoerfer said that over its 15-year history with Visian ICL, it has become the fastest growing refractive technology in the world.
“Now, for the first time in our history, the Visian ICL can treat all LASIK eligible patients and more, while the procedure is as convenient for both the patient and surgeon, if not more so, than LASIK. In other words, we are now on at least an equal playing level with LASIK and we believe with even better visual results for the patient,” he stated.
The ESCRS Congress official program begins Saturday and will include more than 50 presentations in which the Visian ICL technology will be presented.
On Monday, STAAR will host the ESCRS Lunch Symposium entitled, “Revolutions in Refractive Surgery,” which is expected to draw up to 400 surgeons. The luncheon will include six presentations by surgeons from six different countries detailing their experience with the Visian ICL technology, including the new Visian ICL with CentraFLOW technology.
Procera Networks, Inc. (PKT) Announces $6 Million Second Follow-On Order with Leading North American Company
Located in Fremont, California, Procera Networks has quickly earned a reputation as a leader in the development of Intelligent Policy Enforcement (IPE) solutions. Yesterday, Procera took a major step towards prominence with the announcement they have received a $6 million second follow-on order from a leading North American Cable MSO.
This order comes just six months after the MSO awarded a $2 million follow-on order in April 2011. Procera’s PacketLogic technology is being deployed in all of the MSO’s geographies; replacing a leading competitor and symbolizing further growth for the young company as it expand its footprint and continues competitive replacement.
One of the leaders at Procera is Cam Cullen whom serves as the company’s Vice President of Global Marketing. In reference to the follow-on order, Cullen stated, “MSO’s need to understand what type of traffic and applications are driving network usage. They require reliable and detailed analytics that they can use to formulate new service plans and target demographics. Our reporting on video usage, quality of experience and popularity of content providers is priceless when growth forecasts for capital expenditures require detailed information quickly.”
Cullen further stated, “Our Intelligent Policy Enforcement Solutions enable operators to charge according to services, not just consumption, and to create innovative new services that are personalized according to what subscribers want.”
To learn more about the company as a whole, visit their corporate website at: www.proceranetworks.com.
China Botanic Pharmaceutical (CBP) Posts Strong Q3 Results, Guidance
China Botanic Pharmaceutical Inc., a biopharmaceutical and botanical products developer in the People’s Republic of China, today announced financial results for the three months ended July 31, 2011, reflecting increases across the board.
Third quarter net sales increased 33.6 percent to $12.4 million compared to $9.3 million during the same period in 2010. The company attributes the increase mainly to a year-over-year increase in average selling prices of the company’s products.
Net income for the third quarter of 2011 rose 73.0 percent to $2.5 million, or $0.07 per diluted share.
Gross profit increased 60.8 percent to $7.5 million compared to $4.6 million in the third quarter of fiscal 2010. Gross margin increased to 60.3 percent as compared to 50.1 percent in the comparable quarter of 2010. Price increases in all the company’s products countered modest increases in raw material prices and fueled growth in gross profit.
Operating expenses for the third quarter of fiscal 2011 were $4.5 million, as compared to $3.2 million in the same period last year. Operating income in the third quarter of 2011 was $3.0 million compared to $1.4 million in the third quarter of 2010. Operating margin increased year-over-year to 24.1 percent from 15.5 percent.
“We are pleased to report double-digit revenue and net income growth in the third quarter of fiscal year 2011. Our strong growth in sales, profitability, and operating cash flow during the quarter was largely driven by increase in our average selling prices and four new products introduced in the fourth quarter of fiscal year 2010,” Shaoming Li, chairman and CEO of China Botanic stated in the press release.
Li also highlighted strong sales of the company’s Siberian Ginseng products, which accounted for 50 percent of total third-quarter 2011 revenue.
As of July 31, 2011, the company had cash and cash equivalents of approximately $38.3 million; total current assets of approximately $58.9 million; working capital of approximately $45.8 million as compared to $47.1 million for the fiscal year ended October 31, 2010; and no long-term debt on its balance sheet as of July 31, 2011.
Moving forward, China Botanical will pay special attention to several products that it believes will contribute to the company meeting its 2011 guidance, as well as to its Ah City project.
“We will continue to focus on our botanical anti depression and nerve regulations products, and continue to invest in research and development of these products,” Li stated. “We remain confident that we will meet our fiscal year 2011 guidance for revenue in the range of $70.6 million and $71.7 million and net income of $25.5 million. We have completed the architectural design of our Ah City phase two project and are in the process of obtaining approval from relevant government authorities. and expect to begin construction following receipt of approval documents. The Ah City phase two project is expected to be completed in the end of 2012. In the longer term, we expect Ah City natural and pharmaceutical plant expansion and new products which are currently in our R&D pipeline will provide sizeable contribution to our future revenue and net income growth.”
For more information visit www.renhuang.com
Fast Track Designations Given for QLT, Inc. (QLTI) Drug to Treat Two Diseases
QLT, Inc. is an ocular-focused company dedicated to the development and commercialization of novel ocular products. The company’s particular focus is on the development of drugs for the treatment of certain inherited retinal diseases.
The company today announced that its oral synthetic retinoid for retinal diseases, QLT091001, has been granted two fast track designations by the U.S. Food and Drug Administration (FDA). The first is for the treatment of Leber Congenital Amaurosis (LCA) and the second is for the treatment of autosomal recessive Retinitis Pigmentosa (RP). In both cases, the diseases are caused by inherited mutations in the LRAT and RPE65 genes.
QLT received initial FDA clearance to begin trials in July 2011. Following the recent completion of the QLT091001 Phase 1b trial for LCA treatment, QLT continues the ongoing follow-up and initial re-treatment of LCA patients. In addition, the company is targeting the completion of subject enrollment in the RP trial before the end of 2011.
The FDA’s fast track program is designed to facilitate the development and expedite the review of new drugs that are intended for the treatment of serious diseases and fill an unmet medical need. In other words, to get the needed drug to the patient as soon as possible.
For further information on QLT and its QLT091001 drug, please visit the company’s website at www.qltinc.com
The short answer is stem cell-based drug rescue. Valuations are most often driven by shots on goal (drug candidates in which a company has an economic interest) in their pipeline. In the short and medium term, the drug rescue applications will remain the Company's primary focus, followed by continuing clinical development of AV-101 for neuropathic pain (VistaGen plans to license AV-101 to a larger pharmaceutical company after Phase 2) and then its cell therapy/regenerative medicine programs on a longer term basis.
VistaGen Therapeutics, Inc. (VSTA) Provides Comprehensive Update on Corporate Activities and Upcoming Initiatives
VistaGen Therapeutics, Inc., a biotechnology company primarily focused on applying stem cell technology for drug rescue and cell therapy, today provides a comprehensive update on the Company’s strategic plan to develop and commercialize its technology platform and lead small molecule CNS drug candidate.
Shawn K. Singh, VistaGen’s Chief Executive Officer, stated, “Since inception thirteen years ago, we have obtained and carefully employed more than $41 million from various strategic collaborations, investments and grant awards. Our Company has been tremendously resourceful, advancing a cutting-edge technology discovered during the first era of stem cell research to create a portfolio of proprietary technologies with incredible therapeutic and commercial potential in multiple applications.”
“We are currently focused on three large market opportunities to leverage our versatile stem technology platform and CNS drug development capabilities,” he continued. “We are using our stem cell technology platform, Human Clinical Trials in a Test Tube™, for both drug rescue and cell therapy. Our CNS drug development efforts are currently focused on clinical studies of AV-101 for neuropathic pain.”
Human Clinical Trials in a Test Tube™ and CardioSafe 3D™
VistaGen’s Human Clinical Trials in a Test Tube™ platform is based on a combination of proprietary and exclusively licensed pluripotent stem cell technologies, including technologies developed over the last 20 years by Canadian scientist Dr. Gordon Keller, and Dr. Ralph Snodgrass, VistaGen’s founder, President and Chief Scientific Officer. Dr. Keller is currently the Director of the University Health Network’s McEwen Centre for Regenerative Medicine in Toronto. His research is focused on understanding and controlling stem cell differentiation and production of multiple types of mature, functional, human cells from pluripotent stem cells, including heart cells and liver cells that can be used in VistaGen’s biological assay systems for drug rescue. Dr. Snodgrass has nearly 20 years experience in both academia and industry in the development and application of stem cell differentiation systems for drug discovery and development.
VistaGen has leveraged its Human Clinical Trials in a Test Tube™ platform to produce mature human heart cells from pluripotent stem cells. Using mature, functional human heart cells, VistaGen has developed CardioSafe 3D™, its initial three-dimensional, stem cell technology-based bioassay system. VistaGen believes CardioSafe 3D™ is capable of predicting many of the in vivo cardiac effects, both toxic and non-toxic, of small molecule drug candidates before they are tested in humans.
Drug Rescue
Drug rescue combines human pluripotent stem cell technology with modern medicinal chemistry to generate new chemical variants of once promising drug candidates that have been discontinued during preclinical development (i.e. “put on the shelf”) by pharmaceutical companies due to heart or liver safety concerns despite positive efficacy data demonstrating potential therapeutic and commercial benefits. VistaGen’s drug rescue model is designed to leverage both the pharmaceutical company’s substantial prior investment in preclinical development of the drug candidate put on the shelf and the predictive toxicology and drug development capabilities of its Human Clinical Trials in a Test Tube™ platform. VistaGen’s goal is to use CardioSafe 3D™ to generate and monetize a pipeline of small molecule drug rescue variants through drug rescue collaborations focused on heart toxicity.
VistaGen plans to expand the drug rescue capabilities of its Human Clinical Trials in a Test Tube™ platform by developing a second bioassay system, LiverSafe 3D™, using mature human liver cells produced from pluripotent stem cells to predict liver toxicity and drug metabolism.
Cell Therapy
In parallel with its drug rescue activities and in collaboration with Dr. Gordon Keller in Toronto, VistaGen is preparing to initiate pilot preclinical cell therapy programs involving the proprietary stem cell differentiation and cell production capabilities of its Human Clinical Trials in a Test Tube™ platform. The Company’s cell therapy programs are scheduled to begin by year end and are currently focused on high value heart, liver and cartilage repair markets, as well as hematopoietic stem cells for autologous blood cell transplantation.
AV-101 for CNS Conditions and Diseases
VistaGen plans to begin its second Phase 1b clinical study of AV-101 for treatment of neuropathic pain before the end of 2011. The Company plans to include a model of neuropathic pain as a proxy for efficacy in this study. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. VistaGen plans to complete Phase 1 development of AV-101 in the fourth quarter of 2012. Based upon Phase 1 clinical data to date, the Company anticipates advancing AV-101 into Phase 2 development for neuropathic pain by the end of 2012. VistaGen is also exploring additional opportunities to leverage its current Phase 1 clinical program to enable Phase 2 clinical studies of AV-101 for epilepsy and Parkinson’s disease. To date, VistaGen has been awarded over $8.5 million from the U.S. National Institutes of Health (NIH) for development of AV-101.
VSTA - VistaGen Therapeutics Provides Investor Update on Corporate Activities and Upcoming Initiatives
http://www.marketwire.com/press-release/VistaGen-Therapeutics-Provides-Investor-Update-on-Corporate-Activities-Upcoming-OTCBB-VSTA-1561021.htm
SOUTH SAN FRANCISCO, CA--(Marketwire - Sep 14, 2011) - VistaGen Therapeutics, Inc. (OTCBB: VSTA), a biotechnology company primarily focused on applying stem cell technology for drug rescue and cell therapy, today provides a comprehensive update on the Company's strategic plan to develop and commercialize its technology platform and lead small molecule CNS drug candidate.
Shawn K. Singh, VistaGen's Chief Executive Officer, stated, "Since inception thirteen years ago, we have obtained and carefully employed more than $41 million from various strategic collaborations, investments and grant awards. Our Company has been tremendously resourceful, advancing a cutting-edge technology discovered during the first era of stem cell research to create a portfolio of proprietary technologies with incredible therapeutic and commercial potential in multiple applications."
"We are currently focused on three large market opportunities to leverage our versatile stem technology platform and CNS drug development capabilities," he continued. "We are using our stem cell technology platform, Human Clinical Trials in a Test Tube™, for both drug rescue and cell therapy. Our CNS drug development efforts are currently focused on clinical studies of AV-101 for neuropathic pain."
Human Clinical Trials in a Test Tube™ and CardioSafe 3D™
VistaGen's Human Clinical Trials in a Test Tube™ platform is based on a combination of proprietary and exclusively licensed pluripotent stem cell technologies, including technologies developed over the last 20 years by Canadian scientist Dr. Gordon Keller, and Dr. Ralph Snodgrass, VistaGen's founder, President and Chief Scientific Officer. Dr. Keller is currently the Director of the University Health Network's McEwen Centre for Regenerative Medicine in Toronto. His research is focused on understanding and controlling stem cell differentiation and production of multiple types of mature, functional, human cells from pluripotent stem cells, including heart cells and liver cells that can be used in VistaGen's biological assay systems for drug rescue. Dr. Snodgrass has nearly 20 years experience in both academia and industry in the development and application of stem cell differentiation systems for drug discovery and development.
VistaGen has leveraged its Human Clinical Trials in a Test Tube™ platform to produce mature human heart cells from pluripotent stem cells. Using mature, functional human heart cells, VistaGen has developed CardioSafe 3D™, its initial three-dimensional, stem cell technology-based bioassay system. VistaGen believes CardioSafe 3D™ is capable of predicting many of the in vivo cardiac effects, both toxic and non-toxic, of small molecule drug candidates before they are tested in humans.
Drug Rescue
Drug rescue combines human pluripotent stem cell technology with modern medicinal chemistry to generate new chemical variants of once promising drug candidates that have been discontinued during preclinical development (i.e. "put on the shelf") by pharmaceutical companies due to heart or liver safety concerns despite positive efficacy data demonstrating potential therapeutic and commercial benefits. VistaGen's drug rescue model is designed to leverage both the pharmaceutical company's substantial prior investment in preclinical development of the drug candidate put on the shelf and the predictive toxicology and drug development capabilities of its Human Clinical Trials in a Test Tube™ platform. VistaGen's goal is to use CardioSafe 3D™ to generate and monetize a pipeline of small molecule drug rescue variants through drug rescue collaborations focused on heart toxicity.
VistaGen plans to expand the drug rescue capabilities of its Human Clinical Trials in a Test Tube™ platform by developing a second bioassay system, LiverSafe 3D™, using mature human liver cells produced from pluripotent stem cells to predict liver toxicity and drug metabolism.
Cell Therapy
In parallel with its drug rescue activities and in collaboration with Dr. Gordon Keller in Toronto, VistaGen is preparing to initiate pilot preclinical cell therapy programs involving the proprietary stem cell differentiation and cell production capabilities of its Human Clinical Trials in a Test Tube™ platform. The Company's cell therapy programs are scheduled to begin by year end and are currently focused on high value heart, liver and cartilage repair markets, as well as hematopoietic stem cells for autologous blood cell transplantation.
AV-101 for CNS Conditions and Diseases
VistaGen plans to begin its second Phase 1b clinical study of AV-101 for treatment of neuropathic pain before the end of 2011. The Company plans to include a model of neuropathic pain as a proxy for efficacy in this study. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. VistaGen plans to complete Phase 1 development of AV-101 in the fourth quarter of 2012. Based upon Phase 1 clinical data to date, the Company anticipates advancing AV-101 into Phase 2 development for neuropathic pain by the end of 2012. VistaGen is also exploring additional opportunities to leverage its current Phase 1 clinical program to enable Phase 2 clinical studies of AV-101 for epilepsy and Parkinson's disease. To date, VistaGen has been awarded over $8.5 million from the U.S. National Institutes of Health (NIH) for development of AV-101.
About VistaGen Therapeutics
VistaGen is a biotechnology company primarily applying human pluripotent stem cell technology for drug rescue and cell therapy. Drug rescue involves the combination of human pluripotent stem cell technology with modern medicinal chemistry to generate new chemical variants of once promising small molecule drug candidates that pharmaceutical companies have discontinued during preclinical development (i.e. "put on the shelf") due to heart or liver toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits. VistaGen plans to use its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans.
VistaGen anticipates that its stem cell technology platform, Human Clinical Trials in a Test Tube™, will allow it to assess the heart and liver toxicity profile of new drug candidates with greater speed and precision than animal studies and in vitro techniques and technologies currently used in the drug development process. VistaGen's drug rescue model is designed to leverage both the pharmaceutical company's substantial prior investment in preclinical development of drug candidates put on the shelf and the predictive toxicology and drug development capabilities of its Human Clinical Trials in a Test Tube™ platform. VistaGen's goal is to develop a diverse pipeline of drug rescue variants that will be as effective as once promising drug candidates discontinued due to toxicity concerns but without the toxicity that caused them to be put on the shelf.
Visit us at http://www.VistaGen.com, follow us at http://www.twitter.com/VistaGen or view our Facebook page at http://www.facebook.com/VistaGen.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of VistaGen's ongoing clinical studies, including the safety and efficacy of its prodrug candidate, AV-101, the failure of future drug rescue and pilot preclinical cell therapy programs related to VistaGen's stem cell technology-based Human Clinical Trial in a Test Tube™ platform, its ability to enter into drug rescue collaborations, risks and uncertainties relating to the availability of substantial additional capital to support VistaGen's research, development and commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to AV-101 and any drug rescue variants identified and developed by VistaGen. These and other risks and uncertainties are identified and described in more detail in VistaGen's filings with the Securities and Exchange Commission (SEC). These filings are available on the SEC's website at www.sec.gov. VistaGen undertakes no obligation to publicly update or revise any forward-looking statements.
VistaGen Therapeutics Provides Investor Update on Corporate Activities and Upcoming Initiatives
http://www.marketwire.com/press-release/VistaGen-Therapeutics-Provides-Investor-Update-on-Corporate-Activities-Upcoming-OTCBB-VSTA-1561021.htm
SOUTH SAN FRANCISCO, CA--(Marketwire - Sep 14, 2011) - VistaGen Therapeutics, Inc. (OTCBB: VSTA), a biotechnology company primarily focused on applying stem cell technology for drug rescue and cell therapy, today provides a comprehensive update on the Company's strategic plan to develop and commercialize its technology platform and lead small molecule CNS drug candidate.
Shawn K. Singh, VistaGen's Chief Executive Officer, stated, "Since inception thirteen years ago, we have obtained and carefully employed more than $41 million from various strategic collaborations, investments and grant awards. Our Company has been tremendously resourceful, advancing a cutting-edge technology discovered during the first era of stem cell research to create a portfolio of proprietary technologies with incredible therapeutic and commercial potential in multiple applications."
"We are currently focused on three large market opportunities to leverage our versatile stem technology platform and CNS drug development capabilities," he continued. "We are using our stem cell technology platform, Human Clinical Trials in a Test Tube™, for both drug rescue and cell therapy. Our CNS drug development efforts are currently focused on clinical studies of AV-101 for neuropathic pain."
Human Clinical Trials in a Test Tube™ and CardioSafe 3D™
VistaGen's Human Clinical Trials in a Test Tube™ platform is based on a combination of proprietary and exclusively licensed pluripotent stem cell technologies, including technologies developed over the last 20 years by Canadian scientist Dr. Gordon Keller, and Dr. Ralph Snodgrass, VistaGen's founder, President and Chief Scientific Officer. Dr. Keller is currently the Director of the University Health Network's McEwen Centre for Regenerative Medicine in Toronto. His research is focused on understanding and controlling stem cell differentiation and production of multiple types of mature, functional, human cells from pluripotent stem cells, including heart cells and liver cells that can be used in VistaGen's biological assay systems for drug rescue. Dr. Snodgrass has nearly 20 years experience in both academia and industry in the development and application of stem cell differentiation systems for drug discovery and development.
VistaGen has leveraged its Human Clinical Trials in a Test Tube™ platform to produce mature human heart cells from pluripotent stem cells. Using mature, functional human heart cells, VistaGen has developed CardioSafe 3D™, its initial three-dimensional, stem cell technology-based bioassay system. VistaGen believes CardioSafe 3D™ is capable of predicting many of the in vivo cardiac effects, both toxic and non-toxic, of small molecule drug candidates before they are tested in humans.
Drug Rescue
Drug rescue combines human pluripotent stem cell technology with modern medicinal chemistry to generate new chemical variants of once promising drug candidates that have been discontinued during preclinical development (i.e. "put on the shelf") by pharmaceutical companies due to heart or liver safety concerns despite positive efficacy data demonstrating potential therapeutic and commercial benefits. VistaGen's drug rescue model is designed to leverage both the pharmaceutical company's substantial prior investment in preclinical development of the drug candidate put on the shelf and the predictive toxicology and drug development capabilities of its Human Clinical Trials in a Test Tube™ platform. VistaGen's goal is to use CardioSafe 3D™ to generate and monetize a pipeline of small molecule drug rescue variants through drug rescue collaborations focused on heart toxicity.
VistaGen plans to expand the drug rescue capabilities of its Human Clinical Trials in a Test Tube™ platform by developing a second bioassay system, LiverSafe 3D™, using mature human liver cells produced from pluripotent stem cells to predict liver toxicity and drug metabolism.
Cell Therapy
In parallel with its drug rescue activities and in collaboration with Dr. Gordon Keller in Toronto, VistaGen is preparing to initiate pilot preclinical cell therapy programs involving the proprietary stem cell differentiation and cell production capabilities of its Human Clinical Trials in a Test Tube™ platform. The Company's cell therapy programs are scheduled to begin by year end and are currently focused on high value heart, liver and cartilage repair markets, as well as hematopoietic stem cells for autologous blood cell transplantation.
AV-101 for CNS Conditions and Diseases
VistaGen plans to begin its second Phase 1b clinical study of AV-101 for treatment of neuropathic pain before the end of 2011. The Company plans to include a model of neuropathic pain as a proxy for efficacy in this study. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. VistaGen plans to complete Phase 1 development of AV-101 in the fourth quarter of 2012. Based upon Phase 1 clinical data to date, the Company anticipates advancing AV-101 into Phase 2 development for neuropathic pain by the end of 2012. VistaGen is also exploring additional opportunities to leverage its current Phase 1 clinical program to enable Phase 2 clinical studies of AV-101 for epilepsy and Parkinson's disease. To date, VistaGen has been awarded over $8.5 million from the U.S. National Institutes of Health (NIH) for development of AV-101.
About VistaGen Therapeutics
VistaGen is a biotechnology company primarily applying human pluripotent stem cell technology for drug rescue and cell therapy. Drug rescue involves the combination of human pluripotent stem cell technology with modern medicinal chemistry to generate new chemical variants of once promising small molecule drug candidates that pharmaceutical companies have discontinued during preclinical development (i.e. "put on the shelf") due to heart or liver toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits. VistaGen plans to use its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans.
VistaGen anticipates that its stem cell technology platform, Human Clinical Trials in a Test Tube™, will allow it to assess the heart and liver toxicity profile of new drug candidates with greater speed and precision than animal studies and in vitro techniques and technologies currently used in the drug development process. VistaGen's drug rescue model is designed to leverage both the pharmaceutical company's substantial prior investment in preclinical development of drug candidates put on the shelf and the predictive toxicology and drug development capabilities of its Human Clinical Trials in a Test Tube™ platform. VistaGen's goal is to develop a diverse pipeline of drug rescue variants that will be as effective as once promising drug candidates discontinued due to toxicity concerns but without the toxicity that caused them to be put on the shelf.
Visit us at http://www.VistaGen.com, follow us at http://www.twitter.com/VistaGen or view our Facebook page at http://www.facebook.com/VistaGen.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of VistaGen's ongoing clinical studies, including the safety and efficacy of its prodrug candidate, AV-101, the failure of future drug rescue and pilot preclinical cell therapy programs related to VistaGen's stem cell technology-based Human Clinical Trial in a Test Tube™ platform, its ability to enter into drug rescue collaborations, risks and uncertainties relating to the availability of substantial additional capital to support VistaGen's research, development and commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to AV-101 and any drug rescue variants identified and developed by VistaGen. These and other risks and uncertainties are identified and described in more detail in VistaGen's filings with the Securities and Exchange Commission (SEC). These filings are available on the SEC's website at www.sec.gov. VistaGen undertakes no obligation to publicly update or revise any forward-looking statements.
Ocean Power Technologies, Inc. (OPTT) Teams up with Lockheed Martin to Bring Utility-Scale Wave Power to Oregon via a PowerBuoy Array
Ocean Power Technologies announced collaboration with global security and information technology powerhouse, Lockheed Martin, which will provide their substantial expertise and logistical support for advancing the Company’s proposed Reedsport, Oregon, commercial-scale wave power generation project.
This effort will capitalize on previous collaborative efforts between the two companies, with Lockheed bringing vast design, systems integration, manufacturing and supply chain competencies to bear on helping to perfect OPTT’s PowerBuoy® technology. This effort comes fast on the heels of the award of a $2.4M DOE contract to the Company, as part of US Secretary of Energy Steven Chu’s renewable marine energy initiative (announced Sept. 2010).
CEO of OPTT, Charles Dunleavy, emphasized the technical innovation brought to bear on the utility market by the Company, explaining that essential categories like improved power conversion efficiency, lower manufacturing and operating costs and overall reliability, were primary targets.
Dunleavy, pointing to the roll out of the PB150 PowerBuoy product over the next few years, explained that the evolutionary design process would be essential to the successful launch of a 500kW, next-gen system (already under development). This process will of course be sped along by the assistance of technology manufacturing powerhouse Lockheed, who are themselves no strangers to the renewable energy systems sector, allowing OPTT to capture significantly more market space, while cementing the relationship with the US DOE.
This is very exciting news for wave power enthusiasts and investors worldwide as OPTT stands poised to commercialize some of the most advanced renewable wave power generation systems ever made. With the serious backing of DOE and Lockheed Martin ensuring a fertile logistical framework for advancing the state of the art in the commercial space, OPTT and its investors are extremely well-positioned in this exciting sector.
Renewable energy systems like wave power generation are key parts of a future energy solution and the companies which are able to successfully commercialize truly captivating and useful products in this space are destined to make some serious waves globally. Moreover, the core technology itself taps into one of the largest sources of abundant renewable kinetic energy on the planet, tidal forces in the planet’s waters, a renewable resource essentially untouched on the commercial scale in the modern era.
The steel structural components of the Oregon PB150 PowerBuoy are up and testing at OPTT’s lab, which is capable of simulating the conditions off the Oregon coast, has already begun on the advanced power take-off and control system. Confidence is high going into the next few months, as assembly, systems integration and land testing are all slated.
When fully realized, the Oregon project will consist of a 10-buoy, 1.5MW (peak) array capable of generating power for about 1,500 Oregonian homes, truly a marvel of modern technology and a clear sign of continued commitment by the US Government for developing 21st century energy solutions.
Miller Energy Resources, Inc. (MILL) Reports on New Drilling Rig for Alaska Operations
Miller Energy Resources, Inc. announced that a new drilling rig the company had under order has been completed and will be soon be delivered to the company’s properties in Alaska.
Drilling Rig 35, which was built by Voorhees Equipment and Consulting Inc., is designed for both onshore and offshore drilling activity. Miller Energy Resources said that the drilling rig will be set up at the Osprey platform located in the Cook Inlet area of Alaska.
The 2,000 horsepower drilling rig cost Miller Energy Resources $19.5 million. The company recently made a final payment of $5.77 million to Voorhees Equipment and Consulting Inc. using a line of credit arranged with Guggenheim Corporate Funding, LLC.
Miller Energy Resources reported that delivery of the rig may take as long as four weeks, and will be delivered by truck from Houston to Seattle, Washington, and then loaded onto ships for transport to Anchorage, Alaska.
Once the rig is offloaded, Miller Energy Resources will truck the rig the final 150 miles to the Cook Inlet. After the rig arrives at the final destination, it will take approximately 60 days to assemble the unit.
For more information on the company, go to www.millerenergyresources.com
NetSol Technologies, Inc. (NTWK) Forms New Division to Concentrate on Sales and Delivery of SmartOCI Product for eProcurement
NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, today announced that it has formed a new division, Vroozi , Inc., to help increase the sale and delivery of its smartOCI e-commerce product that helps facilitate the B2B procurement process for companies. Netsol’s smartOCI product is a powerful search engine that improves purchasing efficiencies by allowing companies to access their global suppliers and retrieve competitive pricing information, as well as collaborate with suppliers to exchange and publish catalog content. NetSol made several announcements in August of Fortune 500 companies purchasing the smartOCI product to help streamline and improve their SAP eProcurement environment.
NetSol’s new division is named after the word “vroom”, reflecting speed to market, innovation and accelerating business operations. Vroozi, Inc. will work across all verticals to help companies find, negotiate and order goods and services from suppliers online. Vroozi will generate revenue by fees at time of implementation, monthly subscriptions and professional services.
“We believe Vroozi will help NetSol become an industry leader in B2B e-commerce technologies focused on optimizing information and data flow between corporate buyers and suppliers,” said Shaz Khan, senior vice president of NetSol and COO of Vroozi in a press release on Monday. “Companies are in search of solutions that help streamline their day-to-day operations, and Vroozi is well-poised to take market share as smartOCI continues to gain traction.”
For more information go to www.netsoltech.com
Financial Community Anxious to Support Scorpex, Inc. (SRPX)
Scorpex, Inc., an emerging leader in the disposal and recycling of industrial and hazardous wastes for the Baja Mexico/California region, recently announced that it has received financing commitments from two different sources for up to $35 million USD. The financing is contingent upon the issuance of necessary permits, which are expected to be granted in the near future.
The loans are to be secured by the company’s equipment, receivables, land, and other assets. Scorpex stands out among small developing companies in that the company has had no problems obtaining significant financing commitments. A big part of this is due to the fact that Scorpex continues to have clients lining up for its industrial disposal services even though the company may not be operational until next year. The extensive demand for their service has forced them to put some potential clients on a waiting list.
One of the major assets the funds are being used for is an advanced-technology waste gasification/thermal oxidation system, to be supplied and installed by International Environmental Technologies (IET). At a cost of $30 million, it actually represents a lower capital investment than competing systems, together with a lower cost of operation, and a construction time of only 6-12 months. IET will install the system, train supervisory personnel to operate and maintain it, and will even provide spare parts. The purchase price also includes the necessary license to use the technology.
Payment for the system will be divided up as follows:
• $9 million upon initial release of funds from the lender
• $9 million upon completion by IET of associated engineering work prior to installation
• $9 million upon completion by IET of steel framework installation
• $3 million upon final installation, testing, and commissioning
The financing of such a purchase is considered a significant vote of confidence by the financial community, and a clear acknowledgement of the huge and growing demand for a viable waste management solution in the area.
For additional information on Scorpex, visit the company’s website at www.Scorpex.com
Financial Community Anxious to Support SRPX
Scorpex, Inc., an emerging leader in the disposal and recycling of industrial and hazardous wastes for the Baja Mexico/California region, recently announced that it has received financing commitments from two different sources for up to $35 million USD. The financing is contingent upon the issuance of necessary permits, which are expected to be granted in the near future.
The loans are to be secured by the company’s equipment, receivables, land, and other assets. Scorpex stands out among small developing companies in that the company has had no problems obtaining significant financing commitments. A big part of this is due to the fact that Scorpex continues to have clients lining up for its industrial disposal services even though the company may not be operational until next year. The extensive demand for their service has forced them to put some potential clients on a waiting list.
One of the major assets the funds are being used for is an advanced-technology waste gasification/thermal oxidation system, to be supplied and installed by International Environmental Technologies (IET). At a cost of $30 million, it actually represents a lower capital investment than competing systems, together with a lower cost of operation, and a construction time of only 6-12 months. IET will install the system, train supervisory personnel to operate and maintain it, and will even provide spare parts. The purchase price also includes the necessary license to use the technology.
Payment for the system will be divided up as follows:
• $9 million upon initial release of funds from the lender
• $9 million upon completion by IET of associated engineering work prior to installation
• $9 million upon completion by IET of steel framework installation
• $3 million upon final installation, testing, and commissioning
The financing of such a purchase is considered a significant vote of confidence by the financial community, and a clear acknowledgement of the huge and growing demand for a viable waste management solution in the area.
Financial Community Anxious to Support Scorpex, Inc. (SRPX)
Scorpex, Inc., an emerging leader in the disposal and recycling of industrial and hazardous wastes for the Baja Mexico/California region, recently announced that it has received financing commitments from two different sources for up to $35 million USD. The financing is contingent upon the issuance of necessary permits, which are expected to be granted in the near future.
The loans are to be secured by the company’s equipment, receivables, land, and other assets. Scorpex stands out among small developing companies in that the company has had no problems obtaining significant financing commitments. A big part of this is due to the fact that Scorpex continues to have clients lining up for its industrial disposal services even though the company may not be operational until next year. The extensive demand for their service has forced them to put some potential clients on a waiting list.
One of the major assets the funds are being used for is an advanced-technology waste gasification/thermal oxidation system, to be supplied and installed by International Environmental Technologies (IET). At a cost of $30 million, it actually represents a lower capital investment than competing systems, together with a lower cost of operation, and a construction time of only 6-12 months. IET will install the system, train supervisory personnel to operate and maintain it, and will even provide spare parts. The purchase price also includes the necessary license to use the technology.
Payment for the system will be divided up as follows:
• $9 million upon initial release of funds from the lender
• $9 million upon completion by IET of associated engineering work prior to installation
• $9 million upon completion by IET of steel framework installation
• $3 million upon final installation, testing, and commissioning
The financing of such a purchase is considered a significant vote of confidence by the financial community, and a clear acknowledgement of the huge and growing demand for a viable waste management solution in the area.
FDA Gives Greenlight for IsoRay Inc. (ISR) Brain Cancer Treatment
IsoRay Inc. operates through its subsidiary IsoRay Medical to produce brachytherapy seeds, which are cancer-fighting medical radioisotopes implanted in or as close as possible to the cancerous organ. The company today announced that the FDA has cleared its GliaSite® radiation therapy system, which represents a significant step in the company’s trek to return the device to the market place.
GliaSite is a balloon catheter device used in the treatment of brain cancer through brachytherapy. Current brain cancer treatments are complicated by the fact that most cancerous brain tumors recur near the site of the original tumor following its removal. To reduce the risk of recurrence, GliaSite administers a high dose of liquid radiation, post-brain tumor removal, into areas most likely to contain cancer. This process offers an advantage over other treatments in the market by lowering the risk of damage to healthy brain tissue.
The FDA’s decision clears the path for IsoRay to move forward in obtaining additional regulatory approval for its new liquid form of its internal radiation therapy Cesium-131, which would be delivered using the GliaSite system. IsoRay said Cesium-131 boasts the highest cancer-free success rate for patients being treated for prostate cancer.
“FDA clearance of the GliaSite system represents a key development in opening the door to further advances that can expand treatment efficacy as we seek clearance for the use of liquid Cesium-131. We have already seen the importance of Cesium-131 internal radiation therapy seeds in effecting survivability and quality of life in the treatment of cancers throughout the body,” IsoRay CEO Dwight Babcock stated in the press release. “As a company, we are excited to see expanding adoption in hospitals and medical practices nationwide and internationally. Just as importantly, however, we are cognizant of this crucial milestone for patients who are searching for treatment options and hope in their fight against brain cancer.”
Prior to IsoRay’s acquisition of the GliaSite technology, roughly 500 GliaSite cases were performed annually at some 40 hospitals worldwide; the company said it has already received a growing number of inquiries regarding the product’s availability in the marketplace.
For more information visit www.isoray.com
Ness Technologies, Inc. (NSTC) and Menora Mivtachim Group Announce the Signing of Multi-Million Dollar SAP ERP Implementation Contract
Ness Technologies, Inc., a company that works with its subsidiaries to provide information technology (IT) and business services and solutions in North America, Europe, Israel, and India, has announced a multi-million dollar SAP ERP implementation and maintenance contract with Menora Mivtachim Group, an Israeli leader in insurance groups. This contract will include the implementation of a company-wide, SAP based, enterprise resource planning (ERP) system at Menora Mivtachim Group with support, maintenance, and development service for a period of five years.
The New ERP system comprises logistics, human resources, financial, and profit analysis modules, as well as other modules related to insurance. The new system will upgrade numerous procurement and financial processes, improving the efficiency of the company, which includes human capital issues among others, and to help Menora Mivtachim offer its customers the highest level of service.
“The new ERP system will serve most of the companies of Menora Mivtachim Group, enabling optimal control over Menora Mivtachim’s resources and business activity while satisfying relevant regulatory directives,” said Moti Rosen, Chief Executive Officer of Menora Mivtachim. “We selected Ness Technologies due to its proven experience, knowledge and capabilities in large and complex ERP projects, as well as its unique knowledge of the Israeli insurance market’s needs.”
“This contract reflects our excellent reputation as a market leader in implementing innovative and sophisticated solutions in the insurance industry – and ERP systems in particular – combined with integration, testing and implementation capabilities; as does the recent successful launch of an ERP system we implemented for a large Israeli insurance company,” said Effi Kotek, President of Ness Israel. “We will harness the expertise and experience gained by Ness globally to ensure that Menora Mivtachim will receive the highest quality system and the best customer service.”
Get more news and information on Menora Mivtachim Group at: http://www.menoramivt.co.il
For more information on Ness Technologies, Inc., visit their company website at http://www.ness.com
In addition to the first-class management team, VistaGen has extensive support from the following Board of Directors and Scientific Advisory Board
Board of Directors
Jon S. Saxe, Chairman
Mr. Saxe has served as Chairman of our Board of Directors since 2000. He is also the Chairman of our Audit Committee. He is the retired President and was a director of PDL BioPharma served as,President, Chief Executive Officer and a director of Synergen, Inc. (acquired by Amgen). Mr. Saxe also served as Vice President, Licensing & Corporate Development and Head Patent Law for Hoffmann-Roche. Mr. Saxe is a director of SciClone Pharmaceuticals, Inc. (Nasdaq: SCLN), Durect Corporation (Nasdaq: DRRX), Arbor Vita Corporation and Arcuo Medical, LLC. He also has served as a director of several other biotechnology and pharmaceutical companies, including ID Biomedical (acquired by GlaxoSmithKline), Sciele Pharmaceuticals, Inc. (acquired by Shionogi), Amalyte (acquired by Kemin Industries), and Cell Pathways (acquired by OSI Pharmaceuticals)
Gregory A. Bonfiglio, J.D., Director
Mr. Bonfiglio joined our Board of Directors in February 2007. He has over 25 years experience working with technology companies. He is the Managing Partner of Proteus, LLC, an investment and advisory firm focused solely on regenerative medicine (RM). Prior to founding Proteus, Mr. Bonfiglio was a General Partner of Anthem Venture Partners, an early-stage venture fund focused on both biotechnology and information technology. Prior to joining Anthem, he was a Partner with Morrison & Foerster LLP, an international law firm, where he worked extensively with technology companies. Mr. Bonfiglio is a Member of the International Society for Stem Cell Research (ISSCR) and is on its Advisory Board, as well as their Industry and Finance Committees. He is also a Member of the International Society for Cellular Therapy (ISCT) and is on its Commercialization Committee.
Brian J. Underdown, Ph.D., Director
Dr. Underdown joined our Board of Directors in November 2009. Since September 1997, Dr. Underdown has served as the Managing Director of Lumira Capital Corp., having started in the venture capital industry in 1997 with MDS Capital Corporation (MDSCC). His investment focus has been on therapeutics in both new and established companies in both Canada and the United States. Prior to joining MDSCC, Dr. Underdown held a number of senior management positions in the biopharmaceutical industry and at universities. Dr. Underdown’s past and current board positions include: ID Biomedical, Trillium Therapeutics, Cytochroma Inc., Argos Therapeutics, Nysa Membrane Technologies, Ception Therapeutics and Transmolecular Therapeutics. He has served on a number of Boards and advisory bodies of government sponsored research organizations including CANVAC, the Canadian National Centre of Excellence in Vaccines, Ontario Genomics Institute, Allergen, the Canadian National Centre of Excellence in Allergy and Asthma.
H. Ralph Snodgrass, Ph.D., Founder, President and Chief Scientific Officer
Dr. Snodgrass founded VistaGen in 1998 and has served on our Board of Directors since our inception. He served as our Chief Executive Officer until August 2009 and currently serves as our President and Chief Scientific Officer. Dr. Snodgrass has over 18 years of experience in senior biotechnology management, including as Chief Scientific Officer of Progenitor, Inc. He has more than 10 years of research experience as a profes¬sor at the Lineberger Comprehensive Cancer Center, University North Carolina Chapel Hill School of Medicine, and as a member of the Institute for Immunology, Basel, Switzerland. Dr. Snodgrass is a past Board Member of the Emerging Company Section of the Biotechnology Industry Organization (BIO), and is a published and recognized pioneering expert in stem cell biology with more than 20 years’ experience in the uses of stem cells as biological tools for drug discovery and development.
Shawn K. Singh, J.D., Chief Executive Officer
Mr. Singh, our Chief Executive Officer, joined our Board of Directors in 2000. He has over 20 years of experience working with public and private biotechnology and pharmaceutical companies, serving in numerous senior management roles. Prior to becoming our Chief Executive Officer in August 2009, Mr. Singh served as Managing Principal of Cato BioVentures, a biopharmaceutical venture capital firm, Chief Business Officer of Cato Research Ltd., a global contract research and development organization (CRO), President of Echo Therapeutics (Nasdaq: ECTE), a medical device company targeting diabetes management and transdermal drug delivery, and Chief Business Officer of SciClone Pharmaceuticals (Nasdaq: SCLN), a revenue-producing, specialty pharmaceutical company focused on cancer and infectious disease. Mr. Singh also serves as a director of Echo Therapeutics and Armour Therapeutics. He began his career as a corporate finance attorney in the Silicon Valley offices of Morrison & Foerster LLP, an international law firm. Mr. Singh is a member of the State Bar of California.
Scientific Advisory Board
Gordon Keller, Ph.D., Chairman, Director, McEwen Centre for Regenerative Medicine, University Health Network
Dr. Keller, recently named a “Top 25 Transformational Canadian” for his stem cell research, is the Director of UHN’s McEwen Centre, and Professor, Department of Medical Biophysics, University of Toronto, Ontario. Dr. Keller is a world leader in the field of hematopoietic development with more than 100 publications relating to blood development and stem cells. Previously, he held an endowed Chair at the Carl C. Icahn Institute for Gene Therapy and Molecular Medicine, MSSM, was a Member of the NJH, Denver, Colorado, Associate Professor, Department of Immunology, University Health Sciences Center, Denver, Colorado, a Member, Basel Institute for Immunology, Basel, Switzerland, and a Visiting Scientist at the Research Institute of Molecular Pathology, Vienna, Austria. He has served on several NIH study sections and is invited throughout the world to talk about his research on stem cells and blood development. Dr. Keller and Dr. Snodgrass are long-time collaborators who helped pioneer the use of stem cell systems for understanding hematopoietic development, cell biology, and as better biological systems for pharmaceutical discovery, rescue and development.
Peter Backx, D.V.M., Ph.D., Professor, University of Toronto, Departments of Physiology and Medicine
Dr. Backx brings more than 20 years of research experience relating to electrophysiology, ion channels biochemistry, and heart disease with more than 200 publications. He has served on several NIH grant study sections, is a reviewer for 69 multiple scientific journals, and has been a past Chair of multiple committees of the Heart & Stroke Foundation of Canada.
George Clay, Ph.D., Chief Operating Officer (retired), Kyowa Pharmaceuticals
Dr. Clay brings more than 13 years experience in worldwide registration of drugs and biologics, 15 years experience in preclinical research in the fields of neuronal and gastroenterology, and 6 years of consulting relating to drug development and regulatory affairs. In addition to his work at Kyowa, Dr. Clay was former Deputy Vice President, Worldwide Regulatory Affairs, Sanofi Pharmaceuticals, and former Senior Vice President, North American Regulatory Affairs, Novo Nordisk Pharmaceuticals, and has been responsible for more than 12 new drug approvals. Dr. Clay’s experience with regulatory and commercial drug development issues will contribute significantly to our drug rescue programs.
Arthur Fetter, D.V.M., Ph.D., Sr. Vice President (retired), Worldwide Drug Safety, Rhone-Poulenc Rorer
Dr. Fetter brings over 20 years of veterinary pathology/toxicology and senior management experience in preclinical safety assessment of pharmaceuticals, medical devices and surgically related products to meet international registration requirements.We expect Dr. Fetter’s experience with preclinical safety assessment to contribute to our drug rescue efforts by helping us understand the toxicology of compounds and identify and select safer lead drug rescue variants.
Jack Gauldie, Ph.D., Director, Centre for Gene Therapeutics, McMaster University
Dr. Gauldie is recognized internationally for his work in defining the molecular regulation of the acute phase inflammatory response and is a world expert in the areas of cytokine biology and the molecular regulation of inflammation and immunity. He is Professor of the Department of Pathology and Molecular Medicine and a Fellow of the Royal Society of Canada. He also holds the title Distinguished University Professor at McMaster, he is director of the Institute for Molecular Medicine and Health, and director of both the Centre for Gene Therapeutics and MOBIX. Dr. Gauldie holds patents in immune regulation and vaccine development.
John Lowe, Ph.D., Senior Research Fellow (retired), Medicinal Chemistry and Drug Discovery, Pfizer Global R&D
Dr. Lowe has authored 88 publications in the fields of chemistry, pharmacology, and drug design. He is an inventor or co-inventor on over 60 patents. For his discovery of the drug Geodon®, Dr. Lowe was awarded the 2005 Northeast Regional Industrial Innovation Award and the 2007 ACS Heroes of Chemistry Award. Since 2007, he has served on the SAB for the CHDI Foundation. We expect Dr. Lowe’s medicinal chemistry experience and background to contribute significantly to our drug rescue projects and new drug rescue variant design.
David Patterson, M.S., Senior Fellow (retired), Computational Chemistry and Compound Library Design, Tripos International
Mr. Patterson has more than 30 years experience in research and commercial development of software and tools involving systems science, mathematics, and computational chemistry. He has invented and patented methods for validation of molecular descriptors, design of optimally diverse compound libraries (LeadQuest™), rapid searching of virtual libraries containing billions of chemical compounds (ChemSpace™), and interactive graphical displays of the 1000-D chemical descriptor space (SARNavigator™).We expect Mr. Patterson’s computational drug design expertise to be instrumental to our drug rescue programs and new drug rescue variant design.
James E. Sanders, D.V.M., Ph.D., Senior Director and Preclinical Development Leader (retired), Johnson & Johnson
Dr. Sanders has more than 30 years experience in toxicology, safety assessment, drug development and regulatory affairs in senior global positions at world-leading pharmaceutical companies. We expect his experience in absorption, distribution, metabolism and excretion, safety pharmacology, and toxicology to contribute significantly to our drug rescue programs by helping us select new lead drug rescue variants. In addition, Dr. Sanders’ experience in interacting with World Health Regulatory Agencies from pre-IND through product registration will contribute to our drug development efforts.
Ron Wester, Ph.D., Vice President (retired), Medicinal Chemistry and Drug Discovery, Pfizer Global R&D
Dr. Wester has nearly 25 years experience in medicinal chemistry and drug development, with strategic leadership responsibilities for drug discovery technologies across chemistry, biology and computational disciplines. He has extensive senior leadership experience with organizational responsibility for large research global teams across multiple therapeutic areas (atherosclerosis, cardiovascular, diabetes, obesity, and osteoporosis). We expect Dr. Wester’s extensive experience in delivering successful drug candidates and driving the use of new chemistry and computational technologies to contribute significantly to our drug rescue campaigns.
Quantum Fuel Systems (QTWW) Receives Contract for Natural Gas Storage Systems
Quantum Fuel Systems Technologies Worldwide, Inc. announced that the company has received a purchase contract for high capacity, ultra-light weight composite natural gas (CNG) storage systems. These systems are being produced for Agility, a US natural gas medium and heavy duty vehicle integrator, where they will be used in Class 8 trucks.
Quantum Fuel is a fully integrated alternative fuel company that develops and produces advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum’s portfolio includes technology such as hybrid electric drive systems and natural gas/hydrogen storage and metering systems. Quantum also develops components for hybrid and plug-in hybrid vehicles.
The CNG systems provided by Quantum will be light weight and high capacity, enabling a 30% reduction of the operating costs of Class 7 and 8 vehicle fleets. Reducing the weight of these vehicles enables them to carry more fuel, maximizing profits.
“We see a strong future for our CNG systems in class 8 trucks for industries like regional distribution,” said Alan P. Niedzwiecki, Quantum’s President and CEO. “Many retailers and package distribution companies are now seeing the financial advantages of converting to CNG.”
Celsion (CLSN), Aastrom (ASTM), Ventrus (VTUS), Dendreon (DNDN), Advaxis (ADXS), Others to Present to Investors at Rodman-Renshaw Conference
Biotech company Celsion Corp. is scheduled to present the value case for its drugs to prospective investors at the upcoming Rodman & Renshaw 13th Annual Global Investment Conference. Listed conference presenters, as of Thursday night, numbered more than 200 biotechs for the September 11-13 event, and there are other categories with additional companies.
The conference, organized by full-service investment bankers Rodman & Renshaw, is designed to bring investors and companies together to explore investment possibilities. According to the Rodman website, the company has been ranked by Sagient Research Systems as the top placement agent in terms of the aggregate number of private investment in public equity and registered direct offering financing transactions completed every year since 2005.
Conference presenters will also include Aastrom Biosciences, Inc. (NASDAQ: ASTM), Advaxis, Inc. (OTC BB: ADXS), Dendreon Corp. (NASDAQ: DNDN), and Ventrus Biosciences, Inc. (NASDAQ: VTUS). A full list of biotech presenters is available at http://www.rodmanandrenshaw.com/conferences?id=162&link=presenters.
The conference format is set up as ‘tracks’, eight in all, including tracks for China, metals and mining, energy, technology, cleantech, financial services, and Israel. A complete list of companies and tracks can be found at http://www.rodmanandrenshaw.com/conferences?category&id=162. More than 400 companies in all are expected to present.
In its press release, Celsion said that its CEO Michael H. Tardugno will make the company’s presentation. Celsion is focused on the development and commercialization of anti-cancer drugs and tumor-targeting treatments using focused heat energy in combination with heat-activated drug delivery systems. The company has said it will offer a live audio-only webcast of the presentation at their website, and archive it for later listening by interested parties.
Celsion has research, license, or commercialization agreements with various institutions, including the National Institutes of Health, Duke University Medical Center, University of Hong Kong, University of Pisa, and North Shore Long Island Jewish Health System.
The event will also feature such celebrities and public personalities as multi-Grammy-winning artists Natalie Cole and Mary J. Blige, along with former secretary of state Henry Kissinger, former vice president Dick Cheney as keynote speaker, and former senator Christopher Dodd with former SEC chair Harvey Pitt in a discussion panel. Senator Dodd was author of the Dodd-Frank Wall Street Reform bill.
Rodman-Renshaw expects more than 4,000 attendees, drawn mainly from the ranks of private equity firms, institutional investors, sophisticated private investors, industry executives, and business development executives.
VistaGen Therapeutics, Inc. (VSTA) Able to Use Non-Embryonic Stem Cells for Rescuing Promising Drug Candidates
Few advances in the history of human health have raised as much hope as the development and application of pluripotent stem cell technology. It’s an enthusiasm based on the fact that pluripotent stem cells, unlike adult cells, have the remarkable ability, under the right conditions, to be transformed into all sorts of different cells, which can then be used for more efficient research, testing, and ultimately the replacement of damaged tissues and cells for the treatment of heart failure, Parkinson’s disease, cancer, and other life threatening conditions. A key point is that there are different kinds of stem cells, though with similar capabilities.
Embryonic Stem Cells (ES Cells) are pluripotent stem cells derived from excess embryos, eggs that have been fertilized in vitro (IVF) and donated for research purposes with the informed consent of the donors. These embryos did not develop inside the body, and consist of only about 100 cells, long before organs, tissues, or nerves have developed. ES Cells have well-documented potential to differentiate into any of the over 200 cell types found in the human body (that is, they are pluripotent).
Induced Pluripotent Stem Cells (iPS Cells) are derived from adult cells, typically human skin or fat cells, that have been genetically reprogrammed to behave like ES Cells. This is done by forcing the cells to express the genes necessary for maintaining the differentiating ability found in ES Cells. Although ES Cells and iPS Cells are similar in many respects, including the important ability to differentiate into other types of cells, scientists are still determining if there some ways in which they are not alike.
VistaGen Therapeutics is a biotechnology company primarily focused on using advanced stem cell technologies for rescuing previously researched drugs. These are drugs that may have had millions of dollars in research behind them, with proven efficacy, but were blocked because of possible toxicity issues, usually heart or liver toxicity. In some cases this is due simply to the inability of existing assays to provide adequate toxicity data. Such drugs offer immense potential if they can be brought back to life through today’s state-of-the-art testing methods being made possible by VistaGen’s proprietary pluripotent stem cell technologies.
For example, VistaGen’s human heart cell bioassay system, CardioSafe 3D, can provide clearly predictive heart toxicity data on drug candidates before they are ever tested in humans. CardioSafe 3D is based upon a combination of proprietary and exclusively licensed stem cell technologies, including technologies developed over the last 20 years by renowned Canadian scientist, Dr. Gordon Keller, and Dr. Ralph Snodgrass, VistaGen’s founder, President and Chief Scientific Officer. It’s a superior approach designed to eliminate the possibility of toxicity surprises such as occurred with Merck’s Vioxx or GlaxoSmithKline’s Avandia.
VistaGen’s additional advantage is that the Company has developed the ability to use iPS Cells as well as ES Cells for their applications, and in fact has not had to use excess embryos from IVF clinics for over 7 years.
For additional information, visit the Company’s website at www.VistaGen.com
Mattson Technology, Inc. (MTSN) Announces Upcoming Presentation at The Rodman & Renshaw Annual Global Investment Conference
Mattson Technology, Inc. announced this morning that it will be presenting at the Rodman & Renshaw Annual Global Investment Conference being held September 11-13, 2011 at the Waldorf Astoria Hotel, 301 Park Ave, New York. David Dutton, president and chief executive officer of the Company, and Andrew Moring, chief financial officer, will provide a group presentation on Monday at 3:15 p.m. (ET) and will be available during the day for one-on-one meetings.
Mattson Technology designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits. A leading supplier of plasma and rapid thermal processing equipment to the global semiconductor industry, the Company operates in three primary product sectors: dry strip, rapid thermal processing and etch.
Presentation materials will be available on the investor relations section of the Company’s website at www.mattson.com
VSTA Able to Use Non-Embryonic Stem Cells for Rescuing Promising Drug Candidates
Few advances in the history of human health have raised as much hope as the development and application of pluripotent stem cell technology. It’s an enthusiasm based on the fact that pluripotent stem cells, unlike adult cells, have the remarkable ability, under the right conditions, to be transformed into all sorts of different cells, which can then be used for more efficient research, testing, and ultimately the replacement of damaged tissues and cells for the treatment of heart failure, Parkinson’s disease, cancer, and other life threatening conditions. A key point is that there are different kinds of stem cells, though with similar capabilities.
Embryonic Stem Cells (ES Cells) are pluripotent stem cells derived from excess embryos, eggs that have been fertilized in vitro (IVF) and donated for research purposes with the informed consent of the donors. These embryos did not develop inside the body, and consist of only about 100 cells, long before organs, tissues, or nerves have developed. ES Cells have well-documented potential to differentiate into any of the over 200 cell types found in the human body (that is, they are pluripotent).
Induced Pluripotent Stem Cells (iPS Cells) are derived from adult cells, typically human skin or fat cells, that have been genetically reprogrammed to behave like ES Cells. This is done by forcing the cells to express the genes necessary for maintaining the differentiating ability found in ES Cells. Although ES Cells and iPS Cells are similar in many respects, including the important ability to differentiate into other types of cells, scientists are still determining if there some ways in which they are not alike.
VistaGen Therapeutics is a biotechnology company primarily focused on using advanced stem cell technologies for rescuing previously researched drugs. These are drugs that may have had millions of dollars in research behind them, with proven efficacy, but were blocked because of possible toxicity issues, usually heart or liver toxicity. In some cases this is due simply to the inability of existing assays to provide adequate toxicity data. Such drugs offer immense potential if they can be brought back to life through today’s state-of-the-art testing methods being made possible by VistaGen’s proprietary pluripotent stem cell technologies.
For example, VistaGen’s human heart cell bioassay system, CardioSafe 3D, can provide clearly predictive heart toxicity data on drug candidates before they are ever tested in humans. CardioSafe 3D is based upon a combination of proprietary and exclusively licensed stem cell technologies, including technologies developed over the last 20 years by renowned Canadian scientist, Dr. Gordon Keller, and Dr. Ralph Snodgrass, VistaGen’s founder, President and Chief Scientific Officer. It’s a superior approach designed to eliminate the possibility of toxicity surprises such as occurred with Merck’s Vioxx or GlaxoSmithKline’s Avandia.
VistaGen’s additional advantage is that the Company has developed the ability to use iPS Cells as well as ES Cells for their applications, and in fact has not had to use excess embryos from IVF clinics for over 7 years.
For additional information, visit the Company’s website at www.VistaGen.com
BioWorld Today, the news source of record for the biotechnology industry, reaches a readership of 13,500 executives, investors, attorneys, academics, scientists and government officials in the biotech industry every business day.
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The updated fact sheet is now available
http://vistagen.com/Theme/VistaGen/files/VSTA_Fact_Sheet_v001_z2z3d4.pdf
Bioworld Today's article may be of special interest to those performing due diligence on VistaGen Therapeutics.
http://www.vistagen.com/Theme/VistaGen/files/VistaGen_BioWold_v001_y3nela.pdf
The article begins on the bottom left of the first page and continues on page 5.
PositiveID Corp. (PSID) Mobile Health System for Diabetes Management Selected by Rogers Communications for Canadian Technology Showcase
PositiveID Corp., a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, today announced that Rogers Communications has included their iglucose mobile health system in the Technology Showcase 2011 that opens today in Toronto and travels through major Canadian cities until October. The annual Rogers Technology showcase is designed to bring together top hardware, software and service vendors in the wireless field so businesses can play with new devices, chat with experts, watch product demos and learn about new solutions that help change the way companies use technology for business.
PositiveID’s iglucose is a revolutionary way for individuals to manage their diabetes as it uses mobile technology to communicate blood glucose readings from glucometers to the iglucose diabetes management portal where the data can then be shared real time with family members, caregivers and healthcare providers. This method eliminates the burdensome task of journaling that often was placed on patients and further increases the data that doctors can use to monitor treatment regimens including medication and patient behavior. With more than 9 million Canadians living with diabetes or pre-diabetes and about 41,500 deaths attributed to complications from diabetes, healthcare professionals are continually seeking the best methods for self-monitoring to try to decrease the expected rising costs associated with diabetes related illness.
Rogers Communications and PositiveID announced a partnership in June for the mobile and machine to machine wireless connectivity of the iglucose system in Canada. Further, PositiveID joined the Rogers Data Alliance program which consists of a consortium of best-in-breed technology companies working together to provide high performance wireless data solutions to corporate and general business customers. PositiveID has also partnered with MobiCare Technologies Inc., a specialized Canadian healthcare products distributor, to launch iglucose in Canada. iglucose has not been cleared for sale in the U.S. by the United States Food and Drug Administration or in Canada by Health Canada.
The Rogers Technology Showcase opened yesterday in Ottawa, travels today to Toronto, and upcoming dates include Vancouver (Sept 16), Calgary (Sept 20), Edmonton (Sept 22), Winnipeg (Oct 5) and Montreal (Oct 13).
For more information on PositiveID, please visit www.PositiveIDCorp.com
BSQUARE Corp. (BSQR) Announces Global Sales and Marketing Alliance with Future Electronics
BSQUARE Corp., a leading enabler of smart, connected devices, today announced that it has formed a global sales and marketing alliance with Future Electronics, a world-class innovator in the distribution and marketing of semiconductors and passive, interconnect and electro-mechanical components. Leveraging each other’s complementary strengths, the two companies anticipate providing an unprecedented and unified approach to hardware and software solutions for the smart, connected devices market.
The new alliance furthers BSQUARE’s global expansion initiative, bringing its engineering services, development tools and software products to Future’s ARM and x86 based OEM customers around the world. Future’s customers are gaining access to Microsoft Embedded licensing and additional software products from BSQUARE’s many partners, while BSQUARE customers benefit from greater access to device components and a true one-stop-shop for embedded device solutions.
“This partnership is unique in that it combines best-of-breed of embedded hardware and software capabilities for the development of smart, connected devices,” stated Brian Crowley, chief executive officer for BSQUARE. “For BSQUARE, this partnership builds on the European expansion we announced earlier this year and also furthers the Company’s competitiveness in global distribution. Now, Future’s worldwide OEM customer base can benefit from BSQUARE expertise in operating system platform selection, optimization, application development, automated testing and software licensing.”
“This partnership represents an industry milestone,” commented Dan Casey, Executive Vice President of Future Electronics. Together, Future and BSQUARE are enabling an integrated, solutions-oriented approach to device development for a large and growing market that traditionally has been served separately by the hardware and software ecosystems. We are very optimistic about our partnership with BSQUARE and the company’s ability to service our customers worldwide. This complements Future’s hardware development with software capabilities not found elsewhere in the mainstream silicon and components distribution business.”
Evolution Petroleum (EPM) Posts Q4, FY2011 Financial Results
Evolution Petroleum Corp. reported an operations update and financial results for the fourth quarter and fiscal year-ended June 30, 2011, as well as outlined its capital plan for 2012.
The company reported fourth-quarter revenue of $3.2 million, a substantial increase compared to revenues of $1.4 million for the comparable quarter of 2010. Net income for the fourth quarter of 2011 increased to $0.53 million, $0.02 per share, compared to net loss of $0.4 million, or $(0.02) per share, reported in the fourth quarter of 2010.
For the full fiscal year 2011, Evolution Petroleum’s net loss narrowed 90 percent to $0.2 million, or $(0.01) per share, on revenues of $7.5 million, compared to a net loss of $2.4 million, or $(0.09) per share, on revenues of $5.0 million for 2010.
Robert Herlin, Evolution Petroleum president and CEO, noted strong performance in the company’s Delhi EOR project, which achieved continuous gross oil sales.
“We are pleased to report steady improvements in our net income and cash flows from operations. Continued strong performance in our Delhi EOR project combined with the premium oil price currently being realized there has substantially accelerated the projected date of our 24% reversionary working interest, resulting in additional net reserves and a much improved PV-10 metric,” Herlin stated in the press release. “Gross oil sales at Delhi continue to improve and averaged 2,960 barrels of oil per day during the fourth fiscal quarter. We believe that we now have the financial resources in hand, supplemented by recent sales of our preferred stock and projected operating cash flow to fund an expanded capital expenditure program during fiscal 2012.”
The company also noted its board of directors approved a flexible capital budget of up to $12 million, or more, contingent on drilling results, the establishment of joint ventures and other opportunities.
For more information visit www.evolutionpetroleum.com
Scorpex, Inc. (SRPX) Accelerates Achievement of Goals
Early this year, Scorpex, Inc. stated its goals for the remainder of 2011, as part of its move to becoming the leader in hazardous and toxic waste disposal for the Baja Mexico/California region, filling a major and growing need for the area. Principal among those goals were the following:
1) Add key officers and board members to enhance the management team
2) Obtain necessary operating permits for operations of the developing waste disposal facility
3) Engage a third party valuation company to begin audit preparations
4) Increase transparency and industry awareness for company shareholders
5) Continue to develop the necessary infrastructure on its 26-acre site near Ensenada, Mexico
6) Take the first steps toward the purchase of an advanced gasification/thermal oxidation system
7) Obtain the financing necessary to accomplish these and associated goals
In August, Scorpex made an announcement which, looking back on the above declared goals, strongly indicates that the company is progressing faster than was originally expected. Although the year is far from over, the announcement pointed to the following already completed accomplishments.
1) Appointed an interim CFO, and made two additions to the board
2) Received the critical Use of Soil Permit, opening the door to the issuance of state and local permits
3) Engaged an accounting group to prepare for formal auditing
4) Engaged the investor relations services of MissionIR to better communicate with investors
5) Finalized building of a storage facility, water reservoir and septic system, sprinkler, and fencing
6) Signed major contract with IET to install and license a waste gasification/thermal oxidation system
7) Secured financial commitments for up to $35 million of non-dilutive financing
Scorpex CEO, Joseph Caywood, commented on the rapid developments. “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years.”
For additional information on Scorpex, visit the company’s website at www.Scorpex.com
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Cinedigm Digital Cinema Corp. (CIDM) Announces Full Service Solution for Independent Film Producers
Global leader in digital cinema, Cinedigm Digital Cinema Corp. announced that they have formed Indie Direct(TM), a full service distribution and marketing solution for independent film producers and distributors. Cinedigm created Indie Direct to provide independent producers access to the company’s long-time industry standard services for managing theatrical digital distribution, including booking software, content delivery, sales, distribution strategy, marketing planning and execution and box office recoupment.
“From day one of digital cinema, Cinedigm has been at the forefront of deployment and installations,” said Chris McGurk, Chairman and CEO of Cinedigm Digital Cinema. “With Indie Direct, we have tapped into our many years of experience and expertise to pioneer a turnkey method for indie producers to benefit from the flexible, precise and efficient distribution model digital cinema enables. Now, indie producers can reap the benefits of a full service studio in a one-stop shop.”
The first two production entities to sign up for Indie Direct are ARC Entertainment and Seven Arts Pictures. ARC is using the highest level of Indie Direct for eight titles it is releasing by the end of the year, including a horror film double feature with Zombie Diaries and Hellraiser, Smell of Success, Revelations, Killing Bono, Bunraku, Greening of Whitney Brown, Sundance Film Festival pick-up Knuckle, and Snowmen. Seven Arts Pictures will be using Indie Direct for the US release of The Pool Boys on September 30, 2011.
“A theatrical run tremendously enhances the value of the ancillary downstream revenue opportunities for our projects,” said Trevor Drinkwater, CEO of ARC Entertainment. “Cinedigm’s Indie Direct makes that theatrical play both efficient and affordable.”
Jill Newhouse, Cinedigm’s CMO, added, “We are pleased that Indie Direct promotes the independent film community by putting a theatrical release within reach, both financially and from an execution perspective. Previously producers had to go to multiple vendors for these services that are now available under our one roof.”
“Cinedigm is offering independent film makers autonomy to control their own destiny with Indie Direct,” said Ted Hope, acclaimed independent producer of such films as 21 Grams, American Splendor and In the Bedroom. “Anything we can do to strengthen the indie community is vital to the health of the entertainment industry overall and I applaud their efforts.”
Brigus Gold Corp. (BRD) Produces More Promising High-Grade Gold Assay Data at its Canadian Black Fox Complex
Brigus Gold, well known for their prominent Black Fox Mine/Mill in Ontario, Canada’s prolific Timmins gold district, as well as other Canadian and global mineral development activities, was happy to report continued returns of high-grade gold assays from the ongoing explorative drilling in the southern portion of its some 18 sq km Black Fox properties.
The defined area of mineralization in question, the “Contact Zone”, to date is approximatley 400 m in strike length and is open along strike to the north and at depth. Drilling has returned very promising results, with GF11-245 for instance showing intersection of 16.18 gpt (grams/tonne) over 4.5 m, including a 83.04 gpt over 0.75 m hit.
Uncut, average gold grades over true widths from the other drilling showed similarly promising results, with the GF11-154 showing some nice results like 6.09 gpt over 3.03 m and 2.19 gpt over 12.94 m, or the GF11-234, with 6.95 gpt over 4.11 m, including a 11.75 gpt over 1.46 m hit.
With six rigs currently in operation, drilling at Black Fox is proceeding. Three of the rigs are expanding the recently discovered 147 Zone (400 m south of the Contact Zone), two rigs are handling the infill and test drilling (along strike, down-dip) in the Contact Zone’s primary feature, with the remaining rig floating for various activities.
Norex Drilling was utilized for surface drilling, under direct supervision of BRD’s exploration team, with standard fire assay sample analysis conducted by Polymet Labs (ISO 9001:2000 certified in North America) out of nearby Cobalt, Ontario.
Senior Exploration Project Manager for BRD, John A. Dixon, P. Geo., has reviewed the technical data and the Company’s procedural quality control checks, including the insertion of blanks, standards and duplicates in the array in order to validate the accuracy of laboratory analysis.
For more information on drilling activity at Black Fox, or for more information on Brigus Gold Corp., please visit the Company’s website at www.brigusgold.com
An updated fact sheet will be posted on the VistaGen Website under Investors shortly http://www.vistagen.com/Investors_Overview/default.aspx
Scorpex, Inc. (SRPX) Accelerates Achievement of Goals
Early this year, Scorpex, Inc. stated its goals for the remainder of 2011, as part of its move to becoming the leader in hazardous and toxic waste disposal for the Baja Mexico/California region, filling a major and growing need for the area. Principal among those goals were the following:
1) Add key officers and board members to enhance the management team
2) Obtain necessary operating permits for operations of the developing waste disposal facility
3) Engage a third party valuation company to begin audit preparations
4) Increase transparency and industry awareness for company shareholders
5) Continue to develop the necessary infrastructure on its 26-acre site near Ensenada, Mexico
6) Take the first steps toward the purchase of an advanced gasification/thermal oxidation system
7) Obtain the financing necessary to accomplish these and associated goals
In August, Scorpex made an announcement which, looking back on the above declared goals, strongly indicates that the company is progressing faster than was originally expected. Although the year is far from over, the announcement pointed to the following already completed accomplishments.
1) Appointed an interim CFO, and made two additions to the board
2) Received the critical Use of Soil Permit, opening the door to the issuance of state and local permits
3) Engaged an accounting group to prepare for formal auditing
4) Engaged the investor relations services of MissionIR to better communicate with investors
5) Finalized building of a storage facility, water reservoir and septic system, sprinkler, and fencing
6) Signed major contract with IET to install and license a waste gasification/thermal oxidation system
7) Secured financial commitments for up to $35 million of non-dilutive financing
Scorpex CEO, Joseph Caywood, commented on the rapid developments. “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years.”
SRPX Accelerates Achievement of Goals
Early this year, Scorpex, Inc. stated its goals for the remainder of 2011, as part of its move to becoming the leader in hazardous and toxic waste disposal for the Baja Mexico/California region, filling a major and growing need for the area. Principal among those goals were the following:
1) Add key officers and board members to enhance the management team
2) Obtain necessary operating permits for operations of the developing waste disposal facility
3) Engage a third party valuation company to begin audit preparations
4) Increase transparency and industry awareness for company shareholders
5) Continue to develop the necessary infrastructure on its 26-acre site near Ensenada, Mexico
6) Take the first steps toward the purchase of an advanced gasification/thermal oxidation system
7) Obtain the financing necessary to accomplish these and associated goals
In August, Scorpex made an announcement which, looking back on the above declared goals, strongly indicates that the company is progressing faster than was originally expected. Although the year is far from over, the announcement pointed to the following already completed accomplishments.
1) Appointed an interim CFO, and made two additions to the board
2) Received the critical Use of Soil Permit, opening the door to the issuance of state and local permits
3) Engaged an accounting group to prepare for formal auditing
4) Engaged the investor relations services of MissionIR to better communicate with investors
5) Finalized building of a storage facility, water reservoir and septic system, sprinkler, and fencing
6) Signed major contract with IET to install and license a waste gasification/thermal oxidation system
7) Secured financial commitments for up to $35 million of non-dilutive financing
Scorpex CEO, Joseph Caywood, commented on the rapid developments. “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years.”
SPAR Group, Inc. (SGRP) Announces Start-Up of New Subsidiary for Operation in Mexico
SPAR Group, Inc., a provider of merchandising and other marketing services to manufacturers, distributors, and retailers worldwide, has announced the start-up of a new subsidiary in order to expand its operations in Mexico.
The new company, SPAR TODOPROMO, SAPI, de CV., in which SPAR will have a 51 percent ownership interest, is expected to generate $13 million in profitable revenue over the next twelve month period. The remaining 49 percent ownership interest is to be held by Grupo TODOPROMO, a merchandising company that has been operating in the Mexican market since the year 2001. SPAR TODOPROMO will be specializing in the areas of demonstrative services and in-store merchandising. The Company will maintain its operations from four expertly placed locations that service the entire Mexican market.
“SPAR TODOPROMO marks the third new subsidiary for SPAR Group within the previous three months, providing approximately $20 million in annualized revenue to the Company’s top-line,” stated Gary Raymond, Chief Executive Officer of SPAR Group. “This new subsidiary in Mexico will increase our strong performing international revenue base by over 30%. The new Company will provide marquee clients such as Grupo Herdez, Revlon, Epson, McCormick, Levi Strauss, Olympus and 20th Century Fox, and improve the credibility of our already strong client base of Fortune 500 companies. In addition to providing immediate profitability and increased earnings, SPAR TODOPROMO will also provide us access to the rapidly emerging Spanish speaking consumer market while significantly increasing our North American footprint. Management is pleased with our continued geographic expansion and will continue to seek additional accretive markets in which to enter.”
“Grupo TODOPROMO is extremely pleased to partner with a well respected industry leader such as SPAR Group,” said Juan Medina, Chief Executive Officer of Grupo TODOPROMO. “Our longstanding experience and key relationships within the Mexican marketplace, coupled with SPAR Group’s proven systems and marketing solutions, will provide a strong value add to our expanding client base. We intend to leverage the projected cost saving synergies and SPAR’s wide array of merchandising solutions to continue to gain market share going forward.”
For more information on SPAR Group, Inc. visit their Company website at http://www.sparinc.com
National Technical Systems (NTSC) Lands Strategic Acquisition of Lightning Technologies for $6M
National Technical Systems Inc. (“NTS”), a leading provider of testing and engineering services, recently announced its acquisition of Lightning Technologies Inc. (LTI) as part of its growth strategy to become a larger, more diverse and more comprehensive provider of testing and engineering services.
Under the agreement, NTS will acquire LTI for $6 million in cash in addition to an earn-out of up to an additional $1 million based on performance targets within the first 48 months after the acquisition.
NTS president and CEO William C. McGinnis said the acquisition positions NTS as an enhanced comprehensive testing and engineering services company with increased access to new commercial and non-defense industry markets. McGinnis noted that the acquisition also boosts NTS’ service offerings and geographic reach, among other complementary incentives.
“While LTI is a niche business, it is a very important one. It complements our current capabilities and the testing services provided by LTI are a staple requirement for many commercial aerospace applications, as well as for a number of other commercial and industrial applications,” McGinnis stated in the press release. “LTI also has a strategically important customer base that will give us additional exposure to clients in the aerospace, commercial and electronics markets. LTI presents many new opportunities for us with its clients and adds LTI’s capabilities to our menu of services for our current clients.”
LTI is an internationally recognized engineering services and testing laboratory specializing in the field of lightning protection. For the 12 months ended July 31, 2011, LTI reported sales of approximately $4.6 million. The company’s client base includes General Electric, Hamilton Sundstrand, FAA, NASA’s Kennedy Space Center, Walt Disney World’s Epcot, Typhoon Lagoon, and Animal Kingdom parks; it has also provided lightning protection design for major aircraft and space vehicles and launch facilities including NASA Space Shuttle and KSC launch complexes.
NTS said it believes LTI is the only U.S. firm that can test and certify that commercial aircraft meet all requirements of the Federal Aviation Administration’s specification DO160.
Canadian Solar, Inc. (CSIQ) Produces 70 MW of Modules for Germany’s Largest Solar Plant
Canadian Solar, Inc. announced that is has supplied photovoltaic solar modules capable of generating an output of 70 MW to Germany’s largest solar power plant, constructed by GP JOULE. Financing partners for the project were HSH Nordbank, Unlimited Energy and Luxcara.
Canadian Solar is a solar products company that produces ingots, wafers, solar cells, solar modules and other solar applications. Operating in North America, Europe and Asia, the company manufactures solar equipment for both on-grid and off-grid use. GP JOULE (“GP”) is a German designer and fabricator of green energy solutions, including solar, wind and biomass. GP also offers management staff to completed plants, and has international offices in three other countries, including North America.
Construction by GP in the East German city of Meuro involved installing approximately 306,000 solar modules across four fields. The power output of the plant will supply 17,000 households in the area with green energy. Canadian Solar and GP have operated together since 2009, and have recently concluded a supply agreement in April for 97 MW.
“We are proud to see our modules selected for this prestigious landmark project. With this solar power plant, GP JOULE is demonstrating on a high quality standard the true large scale potential of solar energy in meeting energy demands worldwide,” said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. “This project also significantly increases our presence and brand awareness in Germany, consistently the world’s top solar market. We look forward to continuing our successful cooperation with GP JOULE.”
“We selected Canadian Solar’s photovoltaic (‘PV’) modules because of their high quality, performance and reliability — all critical for successfully implementing and running large projects. Canadian Solar continues to set industry benchmarks in the development of innovative PV modules, which also represent excellent value for money,” said Ove Petersen, founder and CEO of GP JOULE. “Service, flexibility and trust are of particular importance for large solar parks, like our current 70 MW project. Canadian Solar has it all.”
VistaGen Therapeutics Inc. (VSTA) on Path to Higher Exchange
Like a number of other growing companies, VistaGen Therapeutics, a biotech company applying stem cell technology for drug rescue and cell therapy, plans to use the OTC Bulletin Board as an important starting point for a move to the NYSE Amex or NASDAQ. In its efforts to access capital markets and raise awareness, the company sees such a move as important for expanding visibility and growing its investor base. Biotech companies that have recently followed a similar path include Neoprobe Corp. (NEOP), which successfully made the leap from OTCBB to the NYSE Amex earlier this year, and Echo Therapeutics (ECTE), which recently moved from the OTCBB to Nasdaq. [NOTE: ECTE reflects the march to Nasdaq very well, and its post-listing volume is much more reflective of what VistaGen aspires to achieve near term.]
Following its successful strategic financing in May, VistaGen is now ready to put its advanced stem cell technology platform to work after twelve years of extensive research and development. VistaGen’s platform combines several technologies, including stem cell technologies developed by VistaGen and renowned Canadian scientist, Dr. Gordon Keller, the Chairman of VistaGen’s Scientific Advisory Board and Director of the University Health Network’s McEwen Centre for Regenerative Medicine in Toronto. One valuable commercial application of VistaGen’s technology involves using mature human cells derived from pluripotent stem cells to create a new generation of biological assays for drug screening. It’s part of an effort to rescue once promising drug candidates that have proven efficacy but which were shelved by pharmaceutical companies due to toxicity issues.
VistaGen’s first target market is heart toxicity, an area of primary concern and potential. The Company’s human heart cell-based CardioSafe 3D bioassay system provides clinically relevant predictive data before human use, thereby preventing serious safety problems seen with such widely-marketed products as Merck’s Vioxx or GlaxoSmithKline’s Avandia. VistaGen is looking to rescue drug candidates that have established efficacy and millions dollars in research behind them, offering huge potential when brought back on track through carefully performed re-engineering using a combination of its stem cell technology and modern medicinal chemistry.
Besides drug rescue, VistaGen is also using its stem cell technologies to advance its preclinical cell therapy programs for applications in autologous bone marrow transplantation and heart, liver, and cartilage repair. In addition, its AV-101 prodrug candidate is in clinical development for treatment of neuropathic pain and other neurological disorders such as epilepsy, and Parkinson’s disease and depression.
For additional information, visit the company’s website at www.VistaGen.com
VistaGen Chairman of Scientific Advisory Board, Gordon Keller Ph.D. featured on CTV, Canada's largest private broadcaster.