|Juno Signs $1 Billion Development Pact With Celgene; Medical Marijuana Announces Investment in AXIM|
|By Josh Gee|
|Tuesday, 30 June 2015 19:53|
Below is a look at some of the headlines for companies that made news in the healthcare sector on June 29, 2015.
Juno Therapeutics Inc. (NASDAQ: JUNO) soared Monday afternoon on news that it signed a 10-year drug development pact with Celgene Corporation (NASDAQ: CELG) after the bell Monday.
Under the agreement, Celgene will make an initial $1 billion payment to Juno in the form of $150 million in cash and the acquisition of 9.1 million Juno shares at $93 a piece.
Juno changed hands recently at $66.50, up $20.20 or 43 percent in the premarket.
Celgene also obtained the right to acquire up to a 30 percent stake in Juno during the 10-year agreement and will nominate a member to Juno's board.
Celgene gained an option in the deal to commercialize Juno programs outside North America while Juno said it will gain an option to co-develop and co-promote certain Celgene programs.
The deal concerns potential cancer and autoimmune disease treatments, with an initial focus on chimeric antigen receptor technology or Car-T, as well as T-cell receptor technologies.
Juno Chief Executive Hans E. Bishop called Celgene an ideal partner to "help us realize the full potential of our research while maintaining the independence we believe is so critical for true innovation."
Celgene has a market cap of $93.5 billion versus Juno's $4.14 billion.
Separately, Juno said it obtained approval to launch a Phase I trial of its non-Hodgkin lymphoma treatment.
Medical Marijuana, Inc. (OTC Pink:MJNA) would like to inform the public and shareholders that it holds 14,943,650 shares of common stock and 500,000 shares of preferred stock in AXIM Biotechnologies (OTCBB:AXIM), a cutting-edge biotechnology innovator.
Stuart W. Titus, PhD, President and CEO of Medical Marijuana Inc. mentions: "We are extremely excited to announce our strategic ownership interest in AXIM Biotech and explain to MJNA's shareholders some of the important innovations that Dr. Anastassov and the AXIM team are focused on. AXIM Biotech's recent announcements include hemp-based innovations that provide consumers a wide variety of new options worldwide."
AXIM Biotech is a unique biotechnology company focused on global research, development and production of pharmaceutical, food, nutraceutical and cosmetic products as well as biofuels derived from cannabinoids. AXIM Biotech is focusing its efforts on unique proprietary mechanisms for the delivery of cannabinoids (e.g. CBD, CBG, etc.).
George E. Anastassov, MD, DDS, MBA and CEO of AXIM Biotech states, "AXIM is a unique hemp-derived biosciences corporation where the responsibility for environmental protection and conservation meets the passion for development of innovative biotechnological applications for problems for which there are currently no solutions. The cannabis plant provides ample opportunity for innovative, sometimes revolutionary products. AXIM has realized the vast potential in oral health products based on cannabinoids, in particular CBG, and has filed intellectual property applications to protect its numerous IP."
AXIM Biotech recently announced that it is the exclusive license recipient to the world's first controlled-release cannabinoid chewing gum. This opens two markets for product development and distribution: food with CanChew Plus® and pharmaceutical with MedChew RX™, which is undergoing clinical trials in preparation for registration with FDA and EMA. The Company also recently unveiled the world's first oral care and cosmetic lines, ORAXIMAX™ and RENECANN™, containing cannabigerol (CBG).
The global pharmaceutical market is reported to be potentially worth nearly $1.6 trillion by 2020. AXIM Biotech intends to develop innovative pharmaceutical delivery systems and API (active pharmaceutical ingredients) for treatment of conditions such as Parkinson's disease, Alzheimer's disease, ADHD (attention deficit hyperactivity disorder), PTSD, autism, spasticity, pain, RLS (restless leg syndrome), glaucoma, IBS, IBD, Crohn's disease and more. All of these efforts are based on proprietary IP.
Akers Biosciences, Inc. (NASDAQ:AKER) (AIM:AKR.L), a medical device company focused on reducing the cost of healthcare through faster, easier diagnostics, is pleased to announce the appointment of former congressman Robert E. "Rob" Andrews as a Non-executive Director of the Company.
Allscripts (Nasdaq:MDRX), a global leader in healthcare information technology solutions, and NantHealth, a cloud-based information technology company, announced they have taken a significant step forward in their strategic partnership through two cross-investments and a strengthening of their commercial agreement.
Amarantus BioScience Holdings, Inc. (OTCQB:AMBSD), a biotechnology company focused on developing therapeutic and diagnostic products for neurological disorders and orphan indications, announced that the U.S. Patent and Trademark Office (USPTO) today issued U.S. Patent No. 9,066,903 entitled, "Pharmacological Treatment of Parkinson's Disease."
Anavex Life Sciences Corp. (OTCQX:AVXL) a clinical-stage biopharmaceutical company developing drug candidates to treat Alzheimer’s disease, other central nervous system (CNS) diseases, pain, and various types of cancer, today announced the presentation of initial clinical data from the ongoing Phase 2a clinical trial of ANAVEX 2-73 during the upcoming Alzheimer’s Association International Conference® 2015 (AAIC), which takes place in Washington D.C. from July 18-23, 2015.
Cancer Genetics, Inc. (Nasdaq:CGIX) announced that it has been awarded a multimillion dollar, clinical trial in hematological cancers by a leading biotech company – the trial is the largest in the company's history of providing clinical trial and genomic services to global biopharma companies.
CAS Medical Systems, Inc. (NASDAQ:CASM), a leader in providing medical products for the non-invasive patient monitoring of tissue oxygenation, announces the election of Alan W. Milinazzo to the Company's Board of Directors.
Catalyst Pharmaceuticals, Inc. (Nasdaq:CPRX), a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, today announced the appointment of Gary Ingenito, M.D., Ph.D, as Chief Medical Officer.
Cellular Biomedicine Group Inc. (NASDAQ:CBMG), a biomedicine firm engaged in the development of new treatments for degenerative and cancerous diseases, today reminded its shareholders to read the Q&A posted in the Company's website (view here) regarding the class action law suit filed in the U.S. District Court for the Northern District of California against the Company, its CEO and CFO.
iKang Healthcare Group, Inc. (Nasdaq:KANG), China's largest private preventive healthcare services provider, today announced that it has formed a joint venture with former shareholders of Yinchuan Ciming Clinic Co., Ltd. Yinchuan Ciming was franchised from Ciming Checkup Group, the third largest private preventive healthcare services provider in China.
IRADIMED CORPORATION (NASDAQ:IRMD), the only known provider of non-magnetic intravenous (IV) infusion pump systems that are designed to be safe for use during magnetic resonance imaging (MRI) procedures, announced today that the plaintiffs in a putative class action lawsuit filed on September 10, 2014 in the U.S. District Court of Florida ("Lam Civil Action") have filed a notice of appeal from the recent judgment entered upon the District Court's dismissal of all claims on May 26, 2015.
LeMaitre Vascular, Inc. (Nasdaq:LMAT), announced today that it has begun selling Direct-to-Hospital in New Zealand and will be converting Finland as of January 2016.
MediciNova, Inc., (NASDAQ:MNOV) and the JASDAQ Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that the clinical trial of MN-166 (ibudilast) in alcohol dependence has completed enrollment of 24 subjects.
National Research Corporation (NASDAQ: NRCIA and NRCIB) was recently selected by AngMar Medical Holdings, Inc. to implement its full line of OCS HomeCare products, including Home Health CAHPS® (HHCAHPS) and the Healthcare Information Platform (HIP) for predictive analytics and benchmarking.
Signal Genetics, Inc. (NASDAQ:SGNL), a commercial stage, molecular genetics diagnostic company focused on providing innovative diagnostic services that help physicians make better-informed decisions concerning the care of their patients suffering from cancer, today announced the signing of a Master Service Agreement (MSA) with a leading pharmaceutical company.
TetraLogic Pharmaceuticals Corporation (NASDAQ:TLOG), a clinical-stage biopharmaceutical company focused on discovering and developing novel small molecule therapeutics in oncology and infectious diseases, today announced preliminary data from the ongoing Phase 2A study of birinapant in combination with azacitidine in first line higher risk myelodysplastic syndromes (MDS).
TOMI™ Environmental Solutions, Inc. (OTCQB:TOMZ), a global bacteria decontamination and infection prevention company, will hold a conference call today at 4:30 p.m. Eastern Time to review the company's recent business highlights and answer questions.