News Recap for Tuesday 07-06-10 Print E-mail
By Staff   
Tuesday, 06 July 2010 20:00
Below is a list of the companies that made news in the healthcare sector on Monday, July 6, 2010.

After the bell Tuesday:

Dynavax Technologies Corporation (NASDAQ:DVAX) today announced the award of a $600,000 grant from the National Institutes of Health to explore the feasibility of developing a universal vaccine to prevent infection by human papilloma virus (HPV). In contrast to the two approved HPV vaccines that target approximately 70 percent of HPV strains, Dynavax's goal is to develop a vaccine that provides immunity to nearly all cancer-causing strains of HPV. Each year, 470,000 cervical cancers are diagnosed worldwide, and 250,000 deaths are due to cervical cancers.

Hologic, Inc. (Nasdaq:HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, announced today that it has entered into a definitive agreement to acquire Sentinelle Medical Inc., a leading provider of Magnetic Resonance Imaging (MRI) breast coils, tables and visualization software.The purchase price for the transaction will be $85 million.

"We are proud of the innovations we have introduced with our MRI solutions and are very pleased with our accomplishments to date," said Cameron Piron, President and CEO of Sentinelle Medical. "This merger is a natural fit. Our expertise in MR breast imaging combined with Hologic's resources should further accelerate the adoption of our technology and ultimately benefit physicians and improve patient care."

Nephros, Inc. (OTC Bulletin Board:NEPH.OB), a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, today reported that AmeriWater Corporation has adopted the Nephros Dual Stage Ultrafilter (DSU) as a standard component of its MRO portable reverse osmosis water treatment systems for dialysis.

Earlier in the day Tuesday:

NexMed, Inc. (Nasdaq: NEXMD) soared more than 74 % today on no apparent news. Shares opened the day at $2.39 after closing at $2.20 last Friday. The stock reached an intra-day high of $3.88 before settling at $3.83. After the bell, shares continued to rise, moving up another 27 cents to $4.10.

Nektar Therapeutics (Nasdaq:NKTR) announced today that data presented at the European Society for Medical Oncology (ESMO) 12th World Congress on Gastrointestinal Cancer demonstrates that NKTR-102, the company's lead oncology compound, exhibits superior activity compared to irinotecan as part of either a monotherapy or combination regimen in tumor models of gastrointestinal cancers.

NKTR-102 is a novel topoisomerase I inhibitor-polymer conjugate with a sustained exposure profile and a unique macromolecular structure that targets tumor tissue through the enhanced permeation and retention (EPR) effect.

"Data presented today show that NKTR-102 achieves greater and more sustained concentration of active drug in the tumor, leading to superior activity of NKTR-102 in models of gastrointestinal cancers," said Lorianne Masuoka, MD, SVP and Chief Medical Officer of Nektar.

Capstone Therapeutics (Nasdaq:CAPS) announced today it has completed a limited analysis of a subset of data from its ongoing AZX100 Phase 2a clinical trial in trocar site scarring following arthroscopic shoulder surgery. Based on this analysis, the clinical trial will continue to its planned 12-month endpoints.

Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) has started shipping azelastine ophthalmic solution, 0.05%. This product was recently approved by the US Food and Drug Administration for Sun Pharma's Abbreviated New Drug Application. This sterile azelastine hydrochloride ophthalmic solution is therapeutically equivalent to Optivar Ophthalmic Solution, 0.05%® from Medpoint Pharmaceuticals, which has annual sales of approximately $50 million in the US. Azelastine ophthalmic solution is indicated for treatment of the itching of the eyes associated with allergic conjunctivitis.

Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) announced today that it has submitted an expanded Pediatric Investigation Plan to the European Medicines Agency, as part of the process for its submission for a Marketing Authorization Application for pixantrone in the E.U. for the treatment of relapsed or refractory, aggressive non-Hodgkin's lymphoma (NHL). CTI intends to file the MAA later this year. The pediatric program will study pixantrone in pediatric patients aged 6 months to 18 years with the goal of determining the comparative safety and effectiveness of pixantrone compared to doxorubicin in pediatric lymphoid cancers.

Cornerstone Therapeutics Inc. (Nasdaq:CRTX) a specialty pharmaceutical company focused on acquiring, developing and commercializing significant products primarily for the respiratory and related markets, today announced that the Company has reacquired all development and commercial rights to its high-mobility group box protein 1 (HMGB1) related technology from MedImmune, LLC.

Cortex Pharmaceuticals, Inc. (OTCBB: CORX) announced that it has been awarded a grant by The Michael J. Fox Foundation for Parkinson’s Research (MJFF) to test selected compounds from its AMPAKINE® platform for their ability to restore brain function in animal models of Parkinson’s disease.

The award will be used to test Cortex’s selected proprietary High Impact AMPAKINE drug candidates in the mouse MPTP model of Parkinson’s disease (PD), a well-validated model that exhibits many of the hallmarks of human Parkinson’s disease and has been used extensively for drug development in PD. If successful, the work could lead to a neuroprotective treatment for PD with the potential to slow or stop the course of the disease -- something no currently available therapy has been proven to do. Current treatments for PD alleviate the symptoms but do not attack the underlying disease, or alter its course. Positive results will support moving selected compounds towards human clinical trials.

Curis, Inc. (NASDAQ: CRIS) announced today that its licensee Debiopharm S.A. has treated the fifth patient in its ongoing Phase I clinical trial for small molecule heat shock protein 90 (Hsp90) inhibitor Debio 0932, formerly called CUDC-305. Under the terms of the August 2009 license agreement between Curis and Debiopharm, Curis will receive a $3 million milestone payment from Debiopharm for the achievement of this development objective.

"Our relationship with Debiopharm has provided Curis with an important source of capital over the last several months," said Dan Passeri, Curis’ President and Chief Executive. "Debiopharm’s achievement of this important development milestone has brought the total consideration that we have earned to date under this collaboration to $13 million."

Dyax Corp. (NASDAQ: DYAX) announced today that the European Medicines Agency has completed its validation process for the Marketing Authorization Application (MAA) for potential approval to market DX-88 (ecallantide) in the European Union. The completion of this validation process signifies that the formal scientific review of the MAA has begun. DX-88 (ecallantide) has been approved by the U.S. Food and Drug Administration and is marketed as KALBITOR® (ecallantide) for the treatment of acute attacks of hereditary angioedema (HAE) in patients 16 years of age and older. The EMA’s review of the application will follow the centralized marketing authorization procedure. If approved, DX-88 (ecallantide) will receive marketing authorization in 27 EU member states. "Starting the formal scientific review process with the EMA represents another step towards our global strategy of treating HAE patients outside of the United States," commented Gustav Christensen, President and Chief Executive Officer of Dyax. "Dyax, along with our new strategic partner Sigma-Tau, looks forward to working with the EMA during this process as we seek approval in Europe."

Novavax, Inc. (Nasdaq:NVAX) announced today the appointment of Gregory Glenn, M.D., as the company's Chief Scientific Officer who will report to Dr. Rahul Singhvi, President and Chief Executive Officer of Novavax. Previously, Dr. Glenn was Chief Scientific Officer and founder of IOMAI Corporation (now Intercell), an associate in international health at Johns Hopkins University's School of Public Health and a clinical and basic research scientist at Walter Reed Army Institute of Research.

Rexahn Pharmaceuticals, Inc. (NYSE Amex:RNN), a clinical stage pharmaceutical company developing and commercializing potential best in class oncology and CNS therapeutics, today announced the formation of a scientific advisory board (SAB) in major depressive disorder (MDD). The SAB will actively collaborate with Rexahn on the clinical development of Serdaxin® for the treatment of MDD.

The SAB is chaired by Dr. Michael Thase, Professor of Psychiatry and Chief of the Division of Mood and Anxiety Disorders Treatment and Research Program at the University of Pennsylvania. Dr. Thase commented, "In my opinion, Serdaxin’s novel mechanism, which targets both serotonin and dopamine, coupled with the promising results of the recent proof of concept study, provide strong support for further clinical development of this well tolerated drug for treatment of depression."

Sangamo BioSciences, Inc. (Nasdaq:SGMO) announced the publication of data demonstrating the preclinical efficacy of a human stem cell therapy for human immunodeficiency virus (HIV) based on its proprietary zinc finger DNA-binding protein nuclease (ZFN) technology. The ZFN approach enables the permanent disruption of the CCR5 gene, which encodes an important receptor for HIV infection, in all the cell types comprising the immune system that develop from hematopoietic stem cells (HSCs), and is the basis for a promising therapeutic strategy for the treatment of HIV/AIDS. Sangamo has two ongoing Phase 1 clinical trials to evaluate the safety and clinical efficacy of this approach in CD4+ T-cells. "The data described in this paper are an important demonstration of the potential therapeutic possibilities of ZFN modification of human stem cells," commented Philip Gregory, D. Phil., Sangamo's vice president of research and chief scientific officer. "We have demonstrated efficient and specific modification of human hematopoietic stem cells, rendering them resistant to infection with HIV-1 while retaining their 'stemness' and ability to differentiate. These data pave the way for the use of this technology in other diseases for which HSC modification may be therapeutically useful."

Also Tuesday:

Adeona Pharmaceuticals, Inc., (AMEX: AEN) announced today that on July 6, 2010, it completed an equity financing of $1 million with a single institutional investor, Seaside 88, L.P.

Aoxing Pharmaceutical Company, Inc. (NYSE Amex:AXN), a specialty pharmaceutical company focusing on research, development, manufacturing and distribution of narcotic and pain-management products, today announced that its management team and board of directors will ring the Closing Bell at the New York Stock Exchange at 4PM EDT on Thursday, July 8, 2010.

Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, today announced the signing of a new Cooperative Research and Development Agreement (CRADA) with Los Alamos National Security, LLC for the development of a waveguide-based integrated optical biosensor platform for the detection of disease causing pathogens.

Biostar Pharmaceuticals, Inc. (Nasdaq: BSPM) the Xianyang-based manufacturer of a leading over-the-counter Hepatitis B medicine, Xin-Aoxing Oleanolic Acid Capsule, and other pharmaceutical products, today announced that Mr. Deyin "Bill" Chen has been appointed Chief Financial Officer, effective July 1, 2010.

China Pharma Holdings, Inc. (NYSE AMEX: CPHI) a leading fully-integrated specialty pharmaceutical company in China, today announced that the Company's Chief Financial Officer, Mr. Frank Waung, has been invited by Global Hunter Securities to present at the Global Hunter Securities ("GHS") China Conference.

Columbia Laboratories, Inc. (Nasdaq: CBRX) announced today that it has closed the sale of its progesterone related assets and 11.2 million shares of common stock to Watson Pharmaceuticals, Inc. (NYSE: WPI).

Dehaier Medical Systems Ltd. (Nasdaq: DHRM), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, announced today that it has signed a contract to sell 10,000 oxygen-chip units to Beijing C&D Co., Ltd. for RMB11 million (about $1.58 million).

Elan Corporation, plc (NYSE: ELN) today announced that Eliseo Oreste Salinas, MD, MSc, has joined the company as Executive Vice President and Chief Medical Officer effective immediately, with responsibility for leading the company's global development, clinical and medical initiatives.

NeoStem, Inc. (NYSE Amex: NBS) as reported earlier today on BioMedReports, today announced that it has been selected for the award "Best Stem Cell Company, 2010" in The New Economy's Biotech Awards, which identify excellence in the field of technology.

Sangamo BioSciences, Inc. (Nasdaq: SGMO) announced the publication of data demonstrating the preclinical efficacy of a human stem cell therapy for human immunodeficiency virus (HIV) based on its proprietary zinc finger DNA-binding protein nuclease (ZFN) technology.

Syneron Medical Ltd. (NASDAQ: ELOS) a leading medical aesthetic device innovator, reports today the growing popularity of eMatrix™ amongst physicians worldwide in safely and effectively treating all skin tones.

Walgreens (NYSE, NASDAQ: WAG) had June sales of $5.67 billion, an increase of 8.4 percent from $5.23 billion for the same month in 2009. Duane Reade stores contributed 3.0 percentage points to the total sales increase for the month.

West Pharmaceutical Services, Inc. (NYSE: WST), the global leader in innovative system and component solutions for injectable drug administration, today announced that Jeffrey C. Hunt has joined the company as Vice President, Strategic Planning and Business Development. Mr. Hunt will report to Donald E. Morel, Jr., Ph.D., Chairman and Chief Executive Officer.

Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.

"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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