LJPC.PK 0.04 potential R/M OR OTHER DEAL BEFORE FEB24, must read, according to 13g just filed, TANG cap. owns 9.3% or 8.840M shares. LJPC is well financed, feb 25 is the deadline for deal.
Remember key facts:
1) LJPC signed potential 16,3m financing (common stock, preferred convertible stock, some issued, other to be issued if transaction achieved). 1st tranche of financing was about 6 mln $, next due if Transaction reached within 24 february 2011 (even also Preferred shareholders may waive to this condition...)
2) LJPC appointed B. C. LIANG to BOD (ex AMGEN, BIOGEN, NIH) who serves as director in numerous companies such as Tracon & Pico Pharmas, and is ceo of Pfenex bio. Liang is a great scientist and should rebuild co. pipeline. Riquent, potential lupus drug, may be partnered again, and a new, better designed ph3 (change of patients subset, endpoints), may start. Biomarin was the last partner for Riquent (ASPEN study), found futile in ph3. Co doesn't agree that Riquent is futile, because showed statistically significance efficacy limited to certain endpoints and was safe and well tolerated.
3) Co. retained new indipendent registred CPA, dismissing E&J.
4) Co. failed to merge with ADAMIS, last year, because didn't met the quorum and positive votes in shareholders meetings.
5) If Riquent partnered and approved, LJPC may become a billionaire bio co. Watch HGSI and compare!
company received 1st round of financing on may 24 2010, with the committment to find a merger or rm or license for its lupus drug RIQUENT before 9 months in order to get new financing (worth 16mln $ overall). In last weeks co. appointed new officer and confirms CPA, that would mean deal is in the works.
this is a binary event because co. should liquidate if unable to find partner or deal, but the recent event suggested me that something is in the works.
10bagger lupus stock LJPC .03 all timelow R/M player 95 mill OS liquidation value at least .02 more than 7 millions cash per share or 7 cents per share excluding RIQUENT for LUPUS a ph3 drug safe which effectiveness may be shown with a new clinical trial
announcement expected at any moment, nothing of sure, but this co. was historically a FENIX!!!
------------------------------------------------------------------------------------
La Jolla Pharmaceutical Company Announces Appointment of Dr. Bertrand C. Liang to Board of Directors
Press Release Source: La Jolla Pharmaceutical Company On Tuesday December 7, 2010, 9:00 am
SAN DIEGO--(BUSINESS WIRE)-- La Jolla Pharmaceutical Company (OTCBB:LJPC.ob - News) (the “Company”) today announced that Dr. Bertrand C. Liang has been appointed to the Company’s Board of Directors. Dr. Liang is Chief Executive Officer of Pfenex Inc., a biotech company focused on the production of innovator proteins, reagent proteins, and biosimilars, and Capital Member of Forward Ventures/Medical Science Partners. He has worked in the development and financing of biopharmaceuticals for the last 20 years, including at Amgen, Biogen Idec, the National Institutes of Health, Paramount Biosciences and Tracon Pharmaceuticals. Dr. Liang serves on the Board of Directors of Tracon Pharmaceuticals and Pico Pharmaceuticals, Ltd.
Dr. Liang attended Northwestern Medical School and the University of Bolton, with business school at the Regis School of Professional Studies and the Sloan School of Management, emphasizing Strategy and Innovation. Dr. Liang’s clinical training was completed at Brown University and the University of Michigan, with post-doctoral studies at the National Center for Human Genome Sciences and the National Cancer Institute.
“Dr. Liang’s breadth of medical expertise, extensive experience in technology evaluation and small company building and his proven development skills will all be of tremendous value to La Jolla as we seek to establish a pipeline and rebuild the Company”, said Deirdre Y. Gillespie, M.D., President and Chief Executive Officer of La Jolla Pharmaceutical Company. “We are very excited indeed that he is joining our Board of Directors”.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is a biopharmaceutical company dedicated to improving and preserving human life by acquiring and developing innovative pharmaceutical products. In May 2010, the Company completed a private placement of its securities for up to $16.3 million in gross proceeds, payable in two tranches and subject to the acquisition of a suitable drug candidate or the approval of a development plan for Riquent®. The Company expects to use a portion of the initial $6.0 million in proceeds to evaluate potential pharmaceutical products for in-licensing or acquisition and/or to assess whether development opportunities for Riquent exist, among other uses. The Company has historically focused on the development and testing of Riquent as a treatment for lupus nephritis. The Phase 3 clinical trial for Riquent, called the “ASPEN” study, was terminated in February 2009, after the Independent Data Monitoring Board for the ASPEN study informed the Company that they had completed the first interim efficacy analysis and determined that continuing the study was futile. Although continuing the ASPEN study was determined to be futile with respect to the clinical endpoints, Riquent did demonstrate a statistically significant, dose dependent reduction in antibodies to double-stranded DNA when compared to placebo and appeared to be well tolerated. No clinical development activities are currently ongoing while the Company evaluates future candidates for development.
------------------------------------------------------------------------------------
La Jolla Pharmaceutical Company Provides Update on Search for Clinical Products to In-License or Acquire
LJPC.PK 0.02180 0.00
Release Source: La Jolla Pharmaceutical Company On Tuesday September 7, 2010, 9:00 am EDT
SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (OTCBB:LJPC - News) (the “Company”) provided an update today that the Company is actively seeking and evaluating potential pharmaceutical products for in-licensing or acquisition and has engaged consultants to determine whether there is any potential for the further development of Riquent® for the treatment of lupus. The Company is seeking potential pharmaceutical products that are small molecules with initial clinical data indicated for cancer, infectious diseases (but not HIV, HCV or HBV), dermatological conditions, gastrointestinal diseases and rare or orphan diseases. This profile is designed to target product opportunities that could be advanced in a clinically meaningful way with the cash resources currently available to the Company. Gail Sloan is the contact for this effort at gail.sloan@ljpc.com.
The Company expects to complete its process of identifying potential candidates by September 30, 2010, and thereafter focus its attention on selecting a potential candidate for development.
In May 2010, the Company entered into definitive agreements with institutional investors and affiliates for a private placement of common stock, redeemable convertible preferred stock and warrants to purchase convertible preferred stock totaling up to $16.3 million in gross proceeds, payable in two tranches and subject to the acquisition of a suitable drug candidate or the approval of a development plan for Riquent. The Company expects to use a portion of the initial $6.0 million in proceeds to evaluate potential pharmaceutical products for in-licensing or acquisition and/or to assess whether development opportunities for Riquent exist, among other uses. A condition of this funding is that the Company must consummate a strategic transaction that is approved by a majority of the investors in the private placement by February 2011. Upon the acquisition/in-licensing of a product or the decision to develop, sell or out-license the Company’s Riquent program, the same investors are required to infuse the additional $10.3 million into the Company, which would represent the closing of the second tranche of the offering.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is a biopharmaceutical company dedicated to improving and preserving human life by acquiring and developing innovative pharmaceutical products. The Company has historically focused on the development and testing of Riquent as a treatment for lupus nephritis. The Phase 3 clinical trial for Riquent, called the “ASPEN” study, was terminated in February 2009, after the Independent Data Monitoring Board for the ASPEN study informed the Company that they had completed the first interim efficacy analysis and determined that continuing the study was futile. Although continuing the ASPEN study was determined to be futile with respect to the clinical endpoints, Riquent did demonstrate a statistically significant, dose dependent reduction in antibodies to double-stranded DNA when compared to placebo and appeared to be well tolerated. No clinical development activities are ongoing, and the Company is assessing whether there is any potential for further development of Riquent.
