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http://www.wsav.com/sav/news/world/article/a_possible_cure_for_aids/9289/
CNN Newsource
Published: February 6, 2009
Some traditional healers in Nigeria are making a claim that if verified could represent a medical breakthrough.
They’re claiming a cure for AIDS… And other ‘scientifically incurable’ diseases.
Christian Purefoy reports, though operating outside the medical mainstream, traditional healers enjoy a healthy respect in Nigeria.
LOCAL MEDICINE MAN BABA CHUKURI SAYS THAT USING HIS TRADITIONAL ROOTS AND HERBS
- HE’S FOUND A CURE FOR AIDS.
THERE’S NO SCIENTIFIC BASIS TO HIS CLAIMS
BUT HE’S ONE OF MANY TRADITIONAL HEALERS ACROSS NIGERIA OFFERING TREATMENTS TO
HUNDREDS OF PEOPLE DAILY FOR A VARIETY OF ILLNESSES, INCLUDING AIDS
“I charge less money than hospitals so people can afford me”, HE SAYS, “but
mostly, people trust me because they see my medicine works”.
NOW, RESEARCHERS ARE TESTING HIS, AND OTHERS, CLAIMS…
WITH THE SECOND-HIGHEST NUMBER OF AIDS CASES IN THE WORLD - BOGUS AIDS “CURES”
ARE BIG BUSINESS IN NIGERIA…
BUT, DR YEMI KUNLE BELIEVES SOME TRADITIONAL HEALERS CAN BECOME ALLIES IN THE
FIGHT AGAINST AIDS AND OTHER DISEASES
“They have a lot to teach Western medicine - to start with they work with a
variety of medicinal plants and these plants serve as leads when we want to
develop new products in orthodox medicine.“
HUNDREDS OF ROOTS AND HERBS HAVE BEEN BROUGHT HERE TO NIGERIA’S INSTITUTE FOR
PHARMACEUTICAL RESEARCH & DEVELOPMENT, OR NIPRD, FOR TESTING.
IN 2000, THE INSTITUTE DEVELOPED A SICKLE CELL TREATMENT - NICOSAN - FROM LOCAL
PLANTS.
AND THEY’RE CURRENTLY RESEARCHING A VARIETY OF TREATMENTS AGAINST DISEASES
LIKE MALARIA, TURBERCULOSIS
AND AH1 - A POTENTIAL IMMUNE BOOSTER AGAINST AIDS
Christian Purefoy - “But if I just eat this - will it do me any good?“
Uford Inyang - “It may not - because you may not have eaten the right dose”
Christian Purefoy - “ wow - that’s very bitter”
Uford Inyang - “Bitter medicine is supposed to be a good medicine.“
IF ANY OF THE TRADITIONAL TREATMENTS ARE FOUND TO WORK BY NIPRD - THE HEALER
COULD GET UP TO 10% IN ROYALTIES
“THESE TRADITIONAL CEREMONIES MAY SEEM EXTREMELY FOREIGN TO WESTERN MEDICAL
PRACTICES - BUT WHAT THESE LOCAL HEALERS ARE TRYING TO TREAT ARE THE SAME
ILLNESSES THAT COULD AFFECT ANYONE ACROSS THE WORLD.“
IT’S NO MILLION-DOLLAR RESEARCH LAB, BUT INSTEAD CHUKURI’S TRADITIONAL
EXPERIENCE SERVES MORE AS A SIGN-POST - HOPEFULLY LEADING SCIENTISTS IN THE
RIGHT DIRECTION.
CHRISTIAN PUREFOY. CNN. ABUJA, NIGERIA
I'll take: 2-4-6-7-10-12-14-15-18-20-21-23-26-27-29-31-34-36-37-40
Tie breaker: 38 pts.
This week I'll take: 1-3-6-7-9-11
mobile home | court calendar | main website
THE HONORABLE JACK SCHMETTERER, PRESIDING
LOCATION: COURTROOM 682
EASTERN DIVISION
Thursday, January 15, 2009
Updated 01/14/2009 @ 06:38:PM CST
--------------------------------------------------------------------------------
10:00 AM
08bk30512 This[51]
XECHEM INC CH. 11
Status Hearing Order Scheduling . Status hearing
08bk30513 This[48]
XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Motion to Sell Property free and clear of Lien - Xechem Pharmaceutical Limited. Filed by Douglas S Draper on behalf of XECHEM International, Inc..
08bk30512 This[76]
XECHEM INC CH. 11
Notice of Motion Filed by Douglas S Draper on behalf of XECHEM International, Inc..
08bk30512 This[77]
XECHEM INC CH. 11
Notice of Motion and Amended Motion to Sell Property free and clear of Lien - Xechem Pharmaceutical Ltd.. Filed by Douglas S Draper on behalf of XECHEM International, Inc..
Home | News | Politics | Business | Sports | Life | Subscribe | Search | Archive Wednesday, 14 January 2009
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Gbenga Daniel Fair In Distribution Of Infastructure - Oniyide
Ireti-Oluwa Oniyide is a development consultant and Initiator of Great Hope Movement, an NGO concerned with the promotion of the cause of the less-privileged in the society. In this interview with Correspondent, Segun Adeleye, the Ilaro, Ogun State-born Managing Director of Xechem Pharmaceuticals Limited, sports enthusiast and politician, speaks on the governorship race in Ogun State come 2011, the significance of Gateway Stadium, Ilaro, among other sundry issues. Excerpts:
Could you let us into the circumstances that led to the formation of Great Hope Movement?
Thank you very much. We were concerned about the need to have a coordinated movement to enhance the workability and promote the reach of what we had been doing at an informal level before now. And that is trying to give a little hand of assistance to make the needed impact on the lives of the people around us. Before now, what we have been doing even while I was in the U.S. was to see to informal assistance to the needs of students, petty traders, farmers and all manner of artisans by supporting them with the tools of their trade and micro cash to make them contribute to the entire macro economic development. On the other hand, we have been using the movement to organise the clinical presentation of our company's anti- sickle cell anaemia drug to the public, we have done that in some parts of Nigeria, but the one for Ilaro, my place of birth, is yet to come. Not to worry, it will be staged and members of the public will get to appreciate the efficiency of the drug in tackling sickle cell. The name of the drug is Nicosan, which has been developed to be of great relief to SS careers from the stable of Xechem Pharmaceuticals Limited, Abuja. One more very important contribution to the society from the stable of the Great Hope Movement (GHM) is part sponsorship of the CrËche at the Christ Church in Ilaro here, which we believe is going to be a strong beginning for early children. The movement, through my humble self, will contribute more to the Eku o mbe Micro Finance Bank, where farmers and all sorts of small businesses can draw take-off capital for their endeavours.
You have just watched Manchester United maul Chelsea 3-1 just before this interview. As a supporter of Gateway United Football Club in Abeokuta, how do you assess the Governor of Ogun State in terms of youth empowerment and job creation through sports particularly?
I must first of all say that the state government's programmes for employment and sports development are unprecedented in the annals of our dear state. Without sounding immodest, one can say without mincing words that Otunba Gbenga Daniel remains the only Governor since the creation of the state in 1976 to have paid more attention to the empowerment of the youth from all fronts, both immediate through merited appointments and the future by the way he has been developing sporting facilities across the four divisions that make up the state. I don't know of any zone in the state that cannot boast of standard stadium that can host international matches in Abeokuta, Ijebu-Ode and Yewa/Awori. The Remo division will soon come alive with the commissioning of another Gateway International Stadium. You are already aware that the Gateway Stadium, Ilaro, is slated for inauguration on Friday, January 16, and everybody that is somebody in Ogun West senatorial district commend the sense of fairness of the Governor in the distribution of projects, infrastructures and even appointments since assumption of duty almost six years now. I could not believe that a league match was played when I watched our state's team, Gateway United Football Club, engage Kaduna United a couple of weeks ago. The spiral economic and social effect of that could be invaluable. One of these days, if adequate security is put in place, grade 'A' international matches would be played on the pitch and everybody will be better for it in one way or the other.
You aspired to be Governor in 2003 under the Peoples Democratic Party (PDP) and could not get it. What happened?
We were nine in number that made that effort and as you are aware, all of us could not have been governor at the same time. Our incumbent Governor emerged, and as you can see, there is no regret so far with the tempo he is going. One of us had to emerge and that is Otunba Gbenga Daniel. But for lack of maturity in our politics, I don't think anybody should regret the choice of the man, he keeps changing the face of the state for better.
http://www.independentngonline.com/news/odud/article04
Posted by: LOCHUTE Date: Monday, January 05, 2009 4:35:50 PM
In reply to: None Post # of 193023
Here is the name and address of the attorney we are each sending $150. to to get things rolling.
If you can help, much appreciated!
Please, everyone who can help, please do.
Thanks!
B. Lane Hasler, P.C.
1530 South State Street
Suite 17A
Chicago, Illinois 60605
Also tell Mr. Haslert that you are giving him permission to represent you and tell him how many shares you have.
Send email to Monty (email address is in the sticky notes at the top of these messages) letting him know how much you sent to the attorney
More court goings-on. Not sure where we stand with anything:
mobile home | court calendar | main website
THE HONORABLE JACK SCHMETTERER, PRESIDING
LOCATION: COURTROOM 682
EASTERN DIVISION
Tuesday, January 20, 2009
Updated 01/13/2009 @ 05:23:PM CST
--------------------------------------------------------------------------------
10:00 AM
08bk30856 This[22]
YASOOB S. AHMED CH. 7
Notice of Motion and Motion for Relief from Stay as to 2008 Mercedes ML350. Fee Amount $150, Filed by David W Cybak on behalf of First Bank & Trust Of Evanston.
08bk31852 This[17]
MICHAEL A AVOLIO AND SAMANTHA J AVOLIO CH. 7
Notice of Motion and Motion for Relief from Stay as to 1098 Woodland Hills Road, Batavia, IL. Fee Amount $150, Filed by Gloria C Tsotsos on behalf of Countrywide Home Loans Servicing LP.
08bk31998 This[13]
AC ENTERPRISES OF PALATINE, INC. CH. 7
Notice of Motion and Motion for Relief from Stay as to Equipment. Fee Amount $150, Filed by Samuel G. Harrod on behalf of AMCORE Bank, N.A..
08bk32458 This[12]
CARRIE J. PETERSON CH. 7
Notice of Motion and Motion for Relief from Stay as to 1401 Quail Dr., Plainfield, IL 60544. Fee Amount $150, Filed by Steven R Rappin on behalf of Citimortgage, Inc..
08bk34825 This[16]
SHANNON L. CADE AND TAMBALIN V. HALL CH. 7
Notice of Motion and Motion for Relief from Stay as to 304 155th Place, Calumet City, IL 60409. Fee Amount $150, Filed by Marc Wagman on behalf of HSBC Bank USA N.A., c/o Ocwen.
08bk35475 This[13]
JOAN M PRIDGEON CH. 7
Notice of Motion and Motion for Relief from Stay as to 5742 S. Normal Blvd., Chicago, IL. Fee Amount $150, Filed by Peter C Bastianen on behalf of Taylor, Bean & Whitaker Mortgage Corp..
08bk19262 This[21]
MASLO TOMASZ CH. 7
Notice of Motion and Motion to Reopen Chapter 7 Case to File Certificate of Financial Management. Fee Amount $260 Filed by Loreto V Lazzara on behalf of Maslo Tomasz.
08bk30513 This[47] Orig[45]
XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Application to Employ Locke Lord Bissell & Liddell LLP as Co-Counsel Filed by Kara J Bruce on behalf of XECHEM International, Inc..
08bk30513 This[46]
XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Amended Application to Employ Locke Lord Bissell & Liddell LLP as Co-Counsel Filed by Kara J Bruce on behalf of XECHEM International, Inc..
08bk30512 This[70]
XECHEM INC CH. 11
Notice of Motion and Amended Application to Employ Locke Lord Bissell & Liddell LLP as Co-Counsel Filed by Kara J Bruce on behalf of Xechem Inc.
08bk30512 This[71] Orig[63]
XECHEM INC CH. 11
Notice of Motion and Application to Employ Locke Lord Bissell & Liddell LLP as Co-Counsel Filed by Kara J Bruce on behalf of Xechem Inc.
08bk35399 This[11]
ROBERT L. MEDINA CH. 7
Notice of Motion and Motion for Relief from Stay as to 657 N. Christiana Avenue, Chicago, IL. Fee Amount $150, Filed by Gloria C Tsotsos on behalf of U.S. Bank National Association, as Trustee.
I'll take 1-3-5-7-10-11-13-15-18-19-21-23. Thanks
I'll take 2-4-5-7-9-11-14-16-17-19-21-24 Thanks
I'll take Atlanta to cover, over, and 46 points. Thanks
I'm Still here, and holding all my shares.
Actually, I'll take New Orleans instead of San Francisco. Thanks
I'll take San Francisco week 16. Thanks
Anything new going on LMF?
I'll take Philadelphia week 15. Thanks
Just found this:
THE MANY ATROCITIES OF THE DIRECTOR GENERAL OF SHEDA SCIENCE & TECHNOLOGY COMPLEX (SHESTCO ABUJA}
Last View on Wed 10th December, 2008
Last Modified on Wed 10th December, 2008 1:13:59 pm
Author: Posted by Admin Sahara
Dear Sir,
The many atrocities of the director general of Sheda Science & Technology Complex (SHESTCO, Abuja)
SHESTCO is a multi disciplinary research institute meant to serve as link between the university and the industry and also, to break new ground in research, import and domesticate technology amongst other things
The complex has its administrative office at first floor tower b federal secretariat complex and its research labs along Gwagwalada/Lokoja expressway.
The 10years rule of our dg (Dr Ayodele Coker) has rubbed our dear country of the vision of founders of SHESTCO by virtue of his office and his selfish interest.
Firstly, the labs are crippled due to lack of funding, this is not because government does not appropriate money, but it ends up in the pocket of just few. Budget is made yearly and defended due process approval will be secured but such project will either not be executed or under executed.
All the equipments bought for the labs are either not useful or obsolete because the end users (scientists) will never be consulted. He indulge in acquiring cheap things where he can get returns not minding that he is putting his fathers land in danger of perpetual slavery. A budget of about 70million naira is given to each of the research labs but none of the labs ever spent 2million naira in a year. The directors of the labs can attest to this.
Some scientist attracted some projects: for example, one late r. Kuta was given a project by the Bayelsa state govt to develop hybrid banana in which about 15million naira was paid to SHESTCO. Some equipment were bought but the project never took off (because the remaining money was diverted) and Bayelsa state could not trace it because of change in govt. these and other equipments are what they show to external auditors when they come as complex property bought with the budget given to them.
Since the inception of SHESTCO the labs have not been able to come out with anything meaningful .we the insider know this. Let not the minister and the top govt officials be deceived by the guided tours we take them through when they visit
We have first class professors and scientist who are celebrated abroad and who can make the place a centre of excellence but they are never allowed. Some frustrated ones have left.
Part of SHESTCO 's mandate is to develop, domesticate and operate a nuclear technology center. This is a multi billion-naira venture, but like others the aim has been defeated because the dg has connived with the company that built it {Siemens} to make it their personal business.
Apart from the fact that the contract was more than 500% inflated, the company {Siemens} made sure that Nigeria engineers and scientist who are supposed to under study the process are denied the opportunity. And any staffs that dare raise opposition to this will incur the wrath of Dr. Coker. This is done so that the white man and himself can be forever relevant in that facility even after leaving office. as we are writing this sir ,not much is known about that facility to our men. This is of course verifiable. Get some nuclear expert to cost that facility vis a vis the so called actual cost and to also ask the staffs there some technical question then you will feel sorry for the country. The Germans fell threatened and insecure if the knowledge is transferred to Africans and they have found a useful tool in our greedy director general who agree to trade our tomorrow for a little porridge they are offering him.
After Siemens completed the job its site manager, Mr. Schneider {a German} who is Dr. Coker’s business partner, floated a company called Rosulitech and was given maintenance contract of the place without due process or with an 'arranged' due process. The said company is also going to run the central workshop and power station
The said workshop has never functioned for a day, because Siemens only equips the place big but useless and obsolete machines, no complete operation can be performed because the machines are not complete. Despite this, they collect huge budget yearly for its maintenance. Maintaining equipment that has never worked.
The power station was equipped with 2 750kva German generators that have no spare part in Nigeria and so make maintenance difficult, which put such a huge investment at risk. Relevant engineers who could advise him were never consulted because of his secret and unholy dealings with Siemens.
Furthermore, government is made to believe that those generators are already commissioned and are working and they make budget for diesel@200ltrs/hr for each of the generators, please forget the hullabaloos about some corrupt governors some of our director generals are richer than them.
Staffs are just only been recruited to the work shop but their salary was included and in the last year budget
Further to this the director general recently gave his son a contract to set up ict center worth about 80million naira as a welcome gift for completing his studies abroad this contract was grossly over inflated and poorly executed.
Also he claimed to build a recreation center just a 4-walled brick building for 80 million naira this is direct stealing of public fund.
We will be happy if you can look into govt financial support to Xechem international to develop anti sickle cell drug through SHESTCO nothing is spent on Xechem, instead they are made to pay for any little service they enjoy from SHESTCO and also contribute diesel for the running of the generators.
Lastly sir, the dg is retiring soon help us ask him to return the complex cars he is hiding in Lagos among which are Prado jeep, Peugeot 604, 2 Peugeot 406,504 station wagon, and 1 executive Hilux pick up van
It is our believe that you will as usual use your good office to investigate this and brought offenders to book
we are counting on you.
Jimoh Aliyu
For Non Academic Staff Union
SHESTCO
http://saharareporters.com/www/letters/detail/?id=613
LMF, what happened to your update?
I'll take Indianapolis week 14. Thanks
They approved the sale, damn it. How's it going LMF. Any good news out of your camp?
It won't allow me to cut and paste it so, check out www.Xechem.com
I'm not suprised one bit that they had the site updated on Thanksgiving day. These guys are the scum of the earth.
I'll take Tennessee week 13. Thanks
Did anybody hear anything from the hearing today? LMF, know anything?
I believe somebody was going to the last time. It may have been LMF.
Anybody joining in on the phone call for the hearing today, or attending?
Thanks MM. I just hope Swift and Burgs Thanksgivings are miserable. Hopefully the shareholders recent actions have them worried sick and looking over their shoulders.
Looks like they're due back in court on Dec. 2, 2008:
THE HONORABLE JACK SCHMETTERER, PRESIDING
LOCATION: COURTROOM 682
EASTERN DIVISION
Tuesday, December 02, 2008
Updated 11/24/2008 @ 05:38:PM CST
08bk30512 This[4]
XECHEM INC AND XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Motion for Joint Administration of Lead Case 08-30512 with Member Case(s) 08-30513 Filed by Deborah W Fallis on behalf of XECHEM International, Inc., Xechem Inc.
08bk30512 This[5]
XECHEM INC AND XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Application to Employ Douglas S. Draper and the Law Firm of Heller, Draper, Hayden, Patrick & Horn, L.L.C. as Counsel to Debtors Filed by Deborah W Fallis on behalf of XECHEM International, Inc., Xechem Inc.
08bk30512 This[20]
XECHEM INC CH. 11
Notice of Motion and Motion to Extend Time File Schedules of Assets and Liabilities, Schedules of Current Income and Expenditures, Schedules of Executory Contracts and Unexpired Leases, and Statements of Financial Affairs Filed by Douglas S Draper onbehalf of XECHEM International, Inc., Xechem Inc.
08bk30513 This[12]
XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Motion to Extend Time File Schedules of Assets and Liabilities, Schedules of Current Income and Expenditures, Schedules of Executory Contracts and Unexpired Leases and Statements of Financial Affairs Filed by Douglas S Draper onbehalf of XECHEM International, Inc., Xechem, Inc..
08bk30513 This[4]
XECHEM INTERNATIONAL, INC. AND XECHEM, INC. CH. 11
Notice of Motion and Motion for Joint Administration of Lead Case 08-30512 with Member Case(s) 08-30513 Filed by Deborah W Fallis on behalf of Xechem, Inc., XECHEM International, Inc..
08bk30513 This[15]
XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Motion to Extend Time File Schedules of Assets and Liabilities, Schedules of Current Income and Expenditures, Schedules of Executory Contracts and Unexpired Leases, and Statement of Financial Affairs Filed by Douglas S Draper onbehalf of XECHEM International, Inc
IMO, Burg's been in on Swift/Basu's plan from the beginning. I don't think he'll change his vote any time soon. I just hope I'm wrong.
If only we could prove it, this whole bankruptcy mess would blow up in their damn faces.
I often wonder if they intentionally suppressed sales to create a supposed need for bankruptcy.
Bankruptcy leaves indigenous sickle cell treatment in jeopardy
Adole Hassan
21 November 2008 | EN
Warren Grant Magnuson Clinical Centre
[ABUJA] A pioneering attempt to commercialise an indigenous treatment for sickle cell anaemia is in serious trouble after the US-based company owning the rights to its development filed for bankruptcy.
Xechem International, whose five-year involvement with the drug, Nicosan, in Nigeria has been tainted by recent allegations of fraud and corruption, this month (10 November) filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy code, for itself and one of its six subsidiaries.
The announcement followed an angry statement issued by shareholders a few days earlier (4 November) accusing Xechem International's chief oversight officer, Robert Swift, of "colossal failures" of management and "systematic destruction" of the parent company.
Nicosan (formerly Niprisan) is based on extracts from West African plants and had been known to generations of a Nigerian family as an effective treatment for sickle cell anaemia.
Around 12 million people suffer from the painful genetic illness. It has been labelled "probably the most neglected serious public health disorder in Africa" by Charles Wambebe, chief executive officer of the International Biomedical Research Institute in Abuja, Nigeria.
A controversial deal
Initially, the family who owned the recipe drew up a Memorandum of Understanding for its development with Nigeria's National Institute for Pharmaceutical Research and Development. This pioneering agreement has been widely cited as a case study in "benefit sharing" — allowing vulnerable groups to have a stake in the profits made from commercialising indigenous products.
In 2003, in a controversial move, Xechem bought the rights to develop Nicosan. By February this year its subsidiary, Xechem Nigeria, said it was producing some 50,000 capsules a year (see Sickle cell drug mired in controversy).
But the following month (March) a fraud complaint was brought before Nigeria's Economic and Financial Crime Commission (EFCC) against Xechem Nigeria. The complainant alleged that US$3.5 million of public funding from the Nigerian government, which was supposed to have been spent on drug manufacture, had been misused.
Xechem had also borrowed nearly US$4 million from a Nigerian bank and US$4 million from a US bank. The destination of these loans has also been questioned.
In June, following an investigation by SciDev.Net that revealed a complex array of issues relating to Xechem, the EFCC announced an investigation into the affair. But, to date, there has been no outward sign of an investigation.
Going public
This month, shareholders said they were making their grievances public because "numerous" attempts to contact members of Xechem's international board of directors had been unsuccessful.
They cited a 99 per cent reduction in the price of the Xechem International Common Stock from US$0.02 in July 2007 to US$0.0002 in November 2008.
They also said that the company had failed for 12 months to retrieve from customs in Lagos US$4.3 million in new equipment purchased for Xechem's manufacturing facility in Abuja and US$2 million in equipment removed from Xechem's former facility in New Brunswick, New Jersey.
There had been "no movement on Food and Drug Administration (FDA) approvals in 16 months; … the termination of planned clinical trials for Xechem's sole marketable product, Nicosan; and numerous allegations against the managing director of Xechem Nigeria, with no apparent investigation or company update into the accuracy of those allegations'.
The shareholders called for the resignation of Swift and demanded an immediate shareholders meeting, noting that bankruptcy would be "an action that will destroy the investments of the shareholders'.
Separately, some have also called for the reinstatement of Ramesh Pandey, the founder of Xechem International, who lost his position as president and chief executive officer last summer following the injection of a new round of capital in the company by a group of investors.
A difficult decision
Swift said in the bankruptcy statement: "filing for Chapter 11 is never an easy decision, however, we view this process as an important step in our ongoing strategic restructuring. We expect to emerge from bankruptcy as a stronger, more able company, well positioned for growth and enhanced profitability."
The company said its financial problems had arisen "as a result of litigation and litigation expenses arising from the lawsuits of former officers, employees and consultants of the company — as well as third party lawsuits — and to protect the operations of our Nigerian subsidiary from default judgments and creditors, it became necessary to seek the protection of the court".
It added that its Nigerian subsidiary "will continue its normal operations".
But a visit by SciDev.Net to the main production site for Nicosan, in Abuja, revealed that activities have ground to a halt.
A staff member — who spoke to SciDev.Net on condition of anonymity — said that the managing director of Xechem Nigeria, Iretiolu Oniyide, had been "elusive" since SciDev.Net broke its story in June. Oniyide denied any wrongdoing in an interview with SciDev.Net earlier this year.
"We go about our work here looking behind us, thinking the team from EFCC has finally arrived. We hope they come before this place finally grinds to a halt,' the staff member said.
Meanwhile a proposal by minister of science and technology Grace Ekpiwhre to set up a committee to investigate Xechem Nigeria, has been dropped after a ministerial meeting decided the allegations were "baseless and untrue", according to a source.
Bankruptcy leaves indigenous sickle cell treatment in jeopardy
Adole Hassan
21 November 2008 | EN
These distinctive, sickle-shaped blood cells spell an early death for millions of sufferers – and Nicosan aims to prevent this.
Warren Grant Magnuson Clinical Centre
[ABUJA] A pioneering attempt to commercialise an indigenous treatment for sickle cell anaemia is in serious trouble after the US-based company owning the rights to its development filed for bankruptcy.
Xechem International, whose five-year involvement with the drug, Nicosan, in Nigeria has been tainted by recent allegations of fraud and corruption, this month (10 November) filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy code, for itself and one of its six subsidiaries.
The announcement followed an angry statement issued by shareholders a few days earlier (4 November) accusing Xechem International's chief oversight officer, Robert Swift, of "colossal failures" of management and "systematic destruction" of the parent company.
Nicosan (formerly Niprisan) is based on extracts from West African plants and had been known to generations of a Nigerian family as an effective treatment for sickle cell anaemia.
Around 12 million people suffer from the painful genetic illness. It has been labelled "probably the most neglected serious public health disorder in Africa" by Charles Wambebe, chief executive officer of the International Biomedical Research Institute in Abuja, Nigeria.
A controversial deal
Initially, the family who owned the recipe drew up a Memorandum of Understanding for its development with Nigeria's National Institute for Pharmaceutical Research and Development. This pioneering agreement has been widely cited as a case study in "benefit sharing" — allowing vulnerable groups to have a stake in the profits made from commercialising indigenous products.
In 2003, in a controversial move, Xechem bought the rights to develop Nicosan. By February this year its subsidiary, Xechem Nigeria, said it was producing some 50,000 capsules a year (see Sickle cell drug mired in controversy).
But the following month (March) a fraud complaint was brought before Nigeria's Economic and Financial Crime Commission (EFCC) against Xechem Nigeria. The complainant alleged that US$3.5 million of public funding from the Nigerian government, which was supposed to have been spent on drug manufacture, had been misused.
Xechem had also borrowed nearly US$4 million from a Nigerian bank and US$4 million from a US bank. The destination of these loans has also been questioned.
In June, following an investigation by SciDev.Net that revealed a complex array of issues relating to Xechem, the EFCC announced an investigation into the affair. But, to date, there has been no outward sign of an investigation.
Going public
This month, shareholders said they were making their grievances public because "numerous" attempts to contact members of Xechem's international board of directors had been unsuccessful.
They cited a 99 per cent reduction in the price of the Xechem International Common Stock from US$0.02 in July 2007 to US$0.0002 in November 2008.
They also said that the company had failed for 12 months to retrieve from customs in Lagos US$4.3 million in new equipment purchased for Xechem's manufacturing facility in Abuja and US$2 million in equipment removed from Xechem's former facility in New Brunswick, New Jersey.
There had been "no movement on Food and Drug Administration (FDA) approvals in 16 months; … the termination of planned clinical trials for Xechem's sole marketable product, Nicosan; and numerous allegations against the managing director of Xechem Nigeria, with no apparent investigation or company update into the accuracy of those allegations'.
The shareholders called for the resignation of Swift and demanded an immediate shareholders meeting, noting that bankruptcy would be "an action that will destroy the investments of the shareholders'.
Separately, some have also called for the reinstatement of Ramesh Pandey, the founder of Xechem International, who lost his position as president and chief executive officer last summer following the injection of a new round of capital in the company by a group of investors.
A difficult decision
Swift said in the bankruptcy statement: "filing for Chapter 11 is never an easy decision, however, we view this process as an important step in our ongoing strategic restructuring. We expect to emerge from bankruptcy as a stronger, more able company, well positioned for growth and enhanced profitability."
The company said its financial problems had arisen "as a result of litigation and litigation expenses arising from the lawsuits of former officers, employees and consultants of the company — as well as third party lawsuits — and to protect the operations of our Nigerian subsidiary from default judgments and creditors, it became necessary to seek the protection of the court".
It added that its Nigerian subsidiary "will continue its normal operations".
But a visit by SciDev.Net to the main production site for Nicosan, in Abuja, revealed that activities have ground to a halt.
A staff member — who spoke to SciDev.Net on condition of anonymity — said that the managing director of Xechem Nigeria, Iretiolu Oniyide, had been "elusive" since SciDev.Net broke its story in June. Oniyide denied any wrongdoing in an interview with SciDev.Net earlier this year.
"We go about our work here looking behind us, thinking the team from EFCC has finally arrived. We hope they come before this place finally grinds to a halt,' the staff member said.
Meanwhile a proposal by minister of science and technology Grace Ekpiwhre to set up a committee to investigate Xechem Nigeria, has been dropped after a ministerial meeting decided the allegations were "baseless and untrue", according to a source.
Bankruptcy leaves indigenous sickle cell treatment in jeopardy
Adole Hassan
21 November 2008 | EN
These distinctive, sickle-shaped blood cells spell an early death for millions of sufferers – and Nicosan aims to prevent this.
Warren Grant Magnuson Clinical Centre
[ABUJA] A pioneering attempt to commercialise an indigenous treatment for sickle cell anaemia is in serious trouble after the US-based company owning the rights to its development filed for bankruptcy.
Xechem International, whose five-year involvement with the drug, Nicosan, in Nigeria has been tainted by recent allegations of fraud and corruption, this month (10 November) filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy code, for itself and one of its six subsidiaries.
The announcement followed an angry statement issued by shareholders a few days earlier (4 November) accusing Xechem International's chief oversight officer, Robert Swift, of "colossal failures" of management and "systematic destruction" of the parent company.
Nicosan (formerly Niprisan) is based on extracts from West African plants and had been known to generations of a Nigerian family as an effective treatment for sickle cell anaemia.
Around 12 million people suffer from the painful genetic illness. It has been labelled "probably the most neglected serious public health disorder in Africa" by Charles Wambebe, chief executive officer of the International Biomedical Research Institute in Abuja, Nigeria.
A controversial deal
Initially, the family who owned the recipe drew up a Memorandum of Understanding for its development with Nigeria's National Institute for Pharmaceutical Research and Development. This pioneering agreement has been widely cited as a case study in "benefit sharing" — allowing vulnerable groups to have a stake in the profits made from commercialising indigenous products.
In 2003, in a controversial move, Xechem bought the rights to develop Nicosan. By February this year its subsidiary, Xechem Nigeria, said it was producing some 50,000 capsules a year (see Sickle cell drug mired in controversy).
But the following month (March) a fraud complaint was brought before Nigeria's Economic and Financial Crime Commission (EFCC) against Xechem Nigeria. The complainant alleged that US$3.5 million of public funding from the Nigerian government, which was supposed to have been spent on drug manufacture, had been misused.
Xechem had also borrowed nearly US$4 million from a Nigerian bank and US$4 million from a US bank. The destination of these loans has also been questioned.
In June, following an investigation by SciDev.Net that revealed a complex array of issues relating to Xechem, the EFCC announced an investigation into the affair. But, to date, there has been no outward sign of an investigation.
Going public
This month, shareholders said they were making their grievances public because "numerous" attempts to contact members of Xechem's international board of directors had been unsuccessful.
They cited a 99 per cent reduction in the price of the Xechem International Common Stock from US$0.02 in July 2007 to US$0.0002 in November 2008.
They also said that the company had failed for 12 months to retrieve from customs in Lagos US$4.3 million in new equipment purchased for Xechem's manufacturing facility in Abuja and US$2 million in equipment removed from Xechem's former facility in New Brunswick, New Jersey.
There had been "no movement on Food and Drug Administration (FDA) approvals in 16 months; … the termination of planned clinical trials for Xechem's sole marketable product, Nicosan; and numerous allegations against the managing director of Xechem Nigeria, with no apparent investigation or company update into the accuracy of those allegations'.
The shareholders called for the resignation of Swift and demanded an immediate shareholders meeting, noting that bankruptcy would be "an action that will destroy the investments of the shareholders'.
Separately, some have also called for the reinstatement of Ramesh Pandey, the founder of Xechem International, who lost his position as president and chief executive officer last summer following the injection of a new round of capital in the company by a group of investors.
A difficult decision
Swift said in the bankruptcy statement: "filing for Chapter 11 is never an easy decision, however, we view this process as an important step in our ongoing strategic restructuring. We expect to emerge from bankruptcy as a stronger, more able company, well positioned for growth and enhanced profitability."
The company said its financial problems had arisen "as a result of litigation and litigation expenses arising from the lawsuits of former officers, employees and consultants of the company — as well as third party lawsuits — and to protect the operations of our Nigerian subsidiary from default judgments and creditors, it became necessary to seek the protection of the court".
It added that its Nigerian subsidiary "will continue its normal operations".
But a visit by SciDev.Net to the main production site for Nicosan, in Abuja, revealed that activities have ground to a halt.
A staff member — who spoke to SciDev.Net on condition of anonymity — said that the managing director of Xechem Nigeria, Iretiolu Oniyide, had been "elusive" since SciDev.Net broke its story in June. Oniyide denied any wrongdoing in an interview with SciDev.Net earlier this year.
"We go about our work here looking behind us, thinking the team from EFCC has finally arrived. We hope they come before this place finally grinds to a halt,' the staff member said.
Meanwhile a proposal by minister of science and technology Grace Ekpiwhre to set up a committee to investigate Xechem Nigeria, has been dropped after a ministerial meeting decided the allegations were "baseless and untrue", according to a source.
Bankruptcy leaves indigenous sickle cell treatment in jeopardy
Adole Hassan
21 November 2008 | EN
These distinctive, sickle-shaped blood cells spell an early death for millions of sufferers – and Nicosan aims to prevent this.
Warren Grant Magnuson Clinical Centre
[ABUJA] A pioneering attempt to commercialise an indigenous treatment for sickle cell anaemia is in serious trouble after the US-based company owning the rights to its development filed for bankruptcy.
Xechem International, whose five-year involvement with the drug, Nicosan, in Nigeria has been tainted by recent allegations of fraud and corruption, this month (10 November) filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy code, for itself and one of its six subsidiaries.
The announcement followed an angry statement issued by shareholders a few days earlier (4 November) accusing Xechem International's chief oversight officer, Robert Swift, of "colossal failures" of management and "systematic destruction" of the parent company.
Nicosan (formerly Niprisan) is based on extracts from West African plants and had been known to generations of a Nigerian family as an effective treatment for sickle cell anaemia.
Around 12 million people suffer from the painful genetic illness. It has been labelled "probably the most neglected serious public health disorder in Africa" by Charles Wambebe, chief executive officer of the International Biomedical Research Institute in Abuja, Nigeria.
A controversial deal
Initially, the family who owned the recipe drew up a Memorandum of Understanding for its development with Nigeria's National Institute for Pharmaceutical Research and Development. This pioneering agreement has been widely cited as a case study in "benefit sharing" — allowing vulnerable groups to have a stake in the profits made from commercialising indigenous products.
In 2003, in a controversial move, Xechem bought the rights to develop Nicosan. By February this year its subsidiary, Xechem Nigeria, said it was producing some 50,000 capsules a year (see Sickle cell drug mired in controversy).
But the following month (March) a fraud complaint was brought before Nigeria's Economic and Financial Crime Commission (EFCC) against Xechem Nigeria. The complainant alleged that US$3.5 million of public funding from the Nigerian government, which was supposed to have been spent on drug manufacture, had been misused.
Xechem had also borrowed nearly US$4 million from a Nigerian bank and US$4 million from a US bank. The destination of these loans has also been questioned.
In June, following an investigation by SciDev.Net that revealed a complex array of issues relating to Xechem, the EFCC announced an investigation into the affair. But, to date, there has been no outward sign of an investigation.
Going public
This month, shareholders said they were making their grievances public because "numerous" attempts to contact members of Xechem's international board of directors had been unsuccessful.
They cited a 99 per cent reduction in the price of the Xechem International Common Stock from US$0.02 in July 2007 to US$0.0002 in November 2008.
They also said that the company had failed for 12 months to retrieve from customs in Lagos US$4.3 million in new equipment purchased for Xechem's manufacturing facility in Abuja and US$2 million in equipment removed from Xechem's former facility in New Brunswick, New Jersey.
There had been "no movement on Food and Drug Administration (FDA) approvals in 16 months; … the termination of planned clinical trials for Xechem's sole marketable product, Nicosan; and numerous allegations against the managing director of Xechem Nigeria, with no apparent investigation or company update into the accuracy of those allegations'.
The shareholders called for the resignation of Swift and demanded an immediate shareholders meeting, noting that bankruptcy would be "an action that will destroy the investments of the shareholders'.
Separately, some have also called for the reinstatement of Ramesh Pandey, the founder of Xechem International, who lost his position as president and chief executive officer last summer following the injection of a new round of capital in the company by a group of investors.
A difficult decision
Swift said in the bankruptcy statement: "filing for Chapter 11 is never an easy decision, however, we view this process as an important step in our ongoing strategic restructuring. We expect to emerge from bankruptcy as a stronger, more able company, well positioned for growth and enhanced profitability."
The company said its financial problems had arisen "as a result of litigation and litigation expenses arising from the lawsuits of former officers, employees and consultants of the company — as well as third party lawsuits — and to protect the operations of our Nigerian subsidiary from default judgments and creditors, it became necessary to seek the protection of the court".
It added that its Nigerian subsidiary "will continue its normal operations".
But a visit by SciDev.Net to the main production site for Nicosan, in Abuja, revealed that activities have ground to a halt.
A staff member — who spoke to SciDev.Net on condition of anonymity — said that the managing director of Xechem Nigeria, Iretiolu Oniyide, had been "elusive" since SciDev.Net broke its story in June. Oniyide denied any wrongdoing in an interview with SciDev.Net earlier this year.
"We go about our work here looking behind us, thinking the team from EFCC has finally arrived. We hope they come before this place finally grinds to a halt,' the staff member said.
Meanwhile a proposal by minister of science and technology Grace Ekpiwhre to set up a committee to investigate Xechem Nigeria, has been dropped after a ministerial meeting decided the allegations were "baseless and untrue", according to a source.
http://www.scidev.net/en/news/bankruptcy-leaves-indigenous-sickle-cell-treatment.html
LMF, any updates from court today?
Court's about to start.
11:30 AM
08bk30512 This[16] Orig[15]
XECHEM INC CH. 11
Motion to Appear Pro Hac Vice Filed by Nancy L Manzer on behalf of AesRx, LLC . (Williams, Daphne)
08bk30512 This[16] Orig[6]
XECHEM INC CH. 11
Notice of Motion and Motion to Sell Property free and clear of Lien Filed by Deborah W Fallis on behalf of XECHEM International, Inc., Xechem Inc.
08bk30513 This[11] Orig[8]
XECHEM INTERNATIONAL, INC. CH. 11
Notice of Motion and Motion to Sell Property free and clear of Lien Filed by Deborah W Fallis on behalf of XECHEM International, Inc., Xechem, Inc..
I'll take Denver week 12. Thanks
Add a "Q" to the end.
Here you go Niczar:
http://www.sec.gov/complaint/selectconduct.shtml
Why the hell are they now having their website worked on:
http://www.xechem.com/