China Cord Blood surges on expansion. Cypress BioScience mulls unsolicited tender offer Print E-mail
By Staff   
Wednesday, 15 September 2010 19:10

Below is a look at some of the headlines for companies that made news in the healthcare sector on September 15, 2010.

Incyte Corporation (Nasdaq:INCY) - after the market close reported that results from a Phase I/II study of Incyte’s janus kinase (JAK) inhibitor with the investigational name INCB18424 (also known as INCB018424 and INC424) were published today in The New England Journal of Medicine, demonstrating marked and durable clinical benefits in patients with myelofibrosis. Incyte retained rights for the development and potential commercialization of INCB18424 in the US and out-licensed the compound to Novartis for development and potential commercialization outside the US.

NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) after the bell today announced that it intends to offer and sell approximately $41,290,000 of its common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Jefferies & Company, Inc. is acting as sole book-running manager and Canaccord Genuity Inc. is acting as co-lead manager for the offering.

Earlier Wednesday:

China Cord Blood Corporation (NYSE:CO), the first and largest cord blood bank operator in China today announced that the Company has entered into a framework agreement to form an indirect non-wholly owned subsidiary with the Zhejiang Provincial Blood Center. Through the new entity, the Company will obtain its fourth exclusive license to conduct private and public cord blood stem cell storage services in China. The new entity will enable CCBC to operate exclusively in the Zhejiang province, a new and previously untapped geographic area in China.

According to the framework agreement, CCBC will own 90% of the new entity via a cash investment of RMB45 million ($6.6 million). The Company's internal cash reserves will fund the investment. The remaining 10% will be satisfied by Zhejiang Provincial Blood Center and secured through the contribution of physical assets. The registration and regulatory application for the new entity will commence immediately.

"Our entry into Zhejiang province marks a major expansion in our nationwide coverage," said Ms. Ting Zheng, Chairperson and CEO of China Cord Blood Corporation. "Zhejiang province is one of the most affluent regions in China with over 520,000 new births per annum, and we expect to capitalize on this huge addressable market. Our ability to obtain the Zhejiang license speaks to our industry reputation and our leadership position. Importantly, this is an accretive transaction for us and it involves no acquisition premium as well."

Shares of China Cord Blood gained 17 cents to $4.71, a 17.75% gain over yesterdays close

Cypress Bioscience, Inc. (Nasdaq:CYPB) today confirmed that Ramius LLC has commenced an unsolicited tender offer to acquire all outstanding common shares of Cypress at a price of $4.25 per share in cash.

Consistent with its fiduciary duties and as required by applicable law, the Cypress Board of Directors will review the offer to determine the course of action that it believes is in the best interests of the Company and its stockholders. Cypress stockholders are advised to take no action at this time pending the review of the tender offer by the Cypress Board of Directors.

Shares of Cypress rose more than 9% or 32 cents to $3.83.

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) today announced preliminary top-line results from its multinational, open-label, single-arm trial evaluating 200 mg once-daily oral forodesine in the treatment of relapsed or refractory cutaneous T-cell lymphoma (CTCL), as well as interim results from the Company’s exploratory Phase 2 study to investigate the efficacy and safety of 200 mg twice-daily oral forodesine as monotherapy for chronic lymphocytic leukemia (CLL).

"These data expand our understanding of the potential role for forodesine and other purine nucleoside phosphorylase inhibitors in the treatment of patients with hematological malignancies," said Jon P. Stonehouse, President and Chief Executive Officer of BioCryst. "We believe PNP inhibition is a potentially interesting mechanism for combination with other therapies and for earlier lines of therapy, based on the clinical activity and tolerability of forodesine."

GTx, Inc. (Nasdaq: GTXI) today announced that in a Phase II, open label, pharmacokinetic-pharmacodynamic clinical trial, GTx-758, an oral selective estrogen receptor alpha agonist being developed to treat advanced prostate cancer, suppressed serum total testosterone to castrate levels, increased serum SHBG (sex hormone binding globulin), and markedly reduced serum free testosterone in healthy male volunteers.

Inovio Pharmaceuticals, Inc. (NYSE Amex: INO), a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, announced today that the PATH Malaria Vaccine Initiative (MVI) has agreed to provide follow-on funding to continue evaluation and development of Inovio’s malaria DNA vaccine candidate in non-human primates.

Masimo (Nasdaq:MASI) announced today the Japanese Ministry of Health, Labor and Welfare (MHLW) regulatory clearance of its noninvasive and continuous hemoglobin (SpHb) measurement, available as part of the Masimo rainbow SET® platform. Representing a breakthrough solution for noninvasively and continuously measuring a patient's hemoglobin level in real-time, SpHb tracks and trends hemoglobin levels without needles, time-consuming laboratory analysis, and risk of contamination associated with traditional blood tests.

Also Wednesday:

ArthroCare Corp. (NASDAQ: ARTC), a leader in developing state-of-the-art, minimally invasive surgical products, announced today it will present during the UBS Global Life Sciences Conference.

AVANIR Pharmaceuticals, Inc. (Nasdaq:AVNR)
today announced that the Company will present at the UBS 2010 Global Life Sciences Conference on Wednesday, September 22nd at 3:30 p.m. Eastern time (12:30 p.m. Pacific time) at the Grand Hyatt New York.

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) today announced the presentation of data related to intravenous (i.v.) peramivir for the treatment of influenza at the 50th Annual Interscience Conference on Antimicrobial Agents & Chemotherapy (ICAAC) in Boston, Massachusetts.

Bohai Pharmaceuticals Group, Inc. (OTCBB/OTCQB: BOPH), a China-based pharmaceutical company engaged in the production, manufacturing and distribution of Traditional Chinese Medicine (TCM) in China, today announced the introduction of five additional pharmaceutical products to its portfolio of TCM offerings.

Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex:CPD) announced that the Board has appointed Eddie Munson to serve on its Board of Directors for a term ending at the 2011 Annual Meeting of Shareholders and the election and qualification of his successor.

Celgene Corporation (NASDAQ: CELG) today announced its presentation at the UBS 2010 Global Life Sciences Conference on Monday, September 20, 2010 at 10:30 a.m. ET will be webcast live and will be available in the investor relations section of the company's Web site at

CONMED Corporation (NASDAQ:CNMD), a medical technology company specializing in medical devices for surgical and patient monitoring markets, announced today that the Company will participate in the UBS Global Life Sciences Conference, on Monday, September 20, 2010 at 2:00 PM Eastern time.

CVS Caremark's (NYSE:CVS) Maintenance Choice program in January 2009, the company's employees and dependents have become more consistent in refilling their maintenance medications – a key driver of overall employee health, CVS Caremark and US Airways reported at a National Business Group on Health conference today.

Edwards Lifesciences Corporation (NYSE:EW), the global leader in the science of heart valves and hemodynamic monitoring, today announced that results from The PARTNER Trial Cohort B will be presented at 11 a.m. on Thursday, September 23, at the 22nd annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium in Washington, D.C.

GeckoSystems Intl. Corp. (PINKSHEETS:GCKO) reported today that over 80% of their nearly 1,400 stockholders hold 500,000 shares or less representing nearly 50% of all freely traded shares. The average holding for all GCKO investors is slightly over 88,000 shares each.

Halozyme Therapeutics, Inc. (Nasdaq:HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced that management will be presenting at two investor conferences during September.

Heathrow Natural Food & Beverage, Inc. (PINKSHEETS:HRNF) is pleased to announce that its ACAI Plus & Resveratrol Plus functional Gums will be available at all 72 stores of the Medina, Ohio based specialty drug chain, Drug Mart.

HeartWare International, Inc. (Nasdaq:HTWR; ASX: HIN), a leading innovator of less invasive, miniaturized circulatory support technologies that are revolutionizing the treatment of advanced heart failure, today announced that CEO Doug Godshall is scheduled to make an investor presentation at the UBS 2010 Global Life Sciences Conference on Tuesday, September 21, at 12:30 pm EDT.

Impax Laboratories, Inc. (NASDAQ:IPXL) today announced that the Company will present at the UBS Global Life Sciences Conference on Monday, September 20, at 10:30 a.m. ET.

Medical Marijuana Inc (PINKSHEETS:MJNA) is proud to announce that The Hemp Network, which is a new multi-level marketing division, ( an excellent response to The Hemp Network at two cannabis and hemp industry events this previous weekend.

Micromet, Inc. (Nasdaq:MITI), a biopharmaceutical company focused on the development and commercialization of next-generation antibodies for the treatment of cancer, announced today that the Company will participate in the 2010 UBS Global Life Sciences Conference, to be held September 20 - 22, 2010 in New York City.

NanoViricides, Inc. (OTC BB: NNVC.OB)
reports that the Company has been invited to present at the Rodman & Renshaw Annual Global Investment Conference, in New York City.

PDL BioPharma, Inc. (PDL) (Nasdaq:PDLI) today announced that John P. McLaughlin, the company's president and chief executive officer, will present at the following upcoming conferences.

PolyMedix, Inc. (OTC BB: PYMX), an emerging biotechnology company focused on developing new therapeutic drugs to treat acute cardiovascular disorders and infectious diseases, today presented five posters at the 50th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC).

Renhuang Pharmaceuticals, Inc. (NYSE Amex:CBP) a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that it has cancelled its earnings conference call previously scheduled for 9.00 a.m. EDT on September 16, 2010.

Response Biomedical Corporation (TSX: RBM, OTCBB: RPBIF) today announced that that S. Wayne Kay, Chief Executive Officer, will speak to the investment community at the Stifel Nicolaus Healthcare Conference 2010 in Boston at approximately 2:40 p.m. Eastern Time, (11:40 p.m. Pacific Time) on Thursday, September 16, 2010.

PolyMedix, Inc. (OTC BB: PYMX), an emerging biotechnology company focused on developing new therapeutic drugs to treat acute cardiovascular disorders and infectious diseases, will be presenting at the UBS Global Lifesciences Conference.

Senomyx, Inc. (NASDAQ:SNMX), a leading company focused on using proprietary taste receptor technologies to discover and develop novel flavor ingredients for the food, beverage, and ingredient supply industries, announced today that Kent Snyder, the Company's Chief Executive Officer, and Tony Rogers, Vice President and Chief Financial Officer, will present a corporate overview on Tuesday, September 21, 2010 at 7:30 a.m. Eastern Time (4:30 a.m. Pacific Time) during the UBS Global Life Sciences Conference.

SensiVida Medical Technologies, Inc. (PINKSHEETS:SVMT) is pleased to announce that they are one of three New York State (NYS) businesses selected to receive the Jumpstart Program award for the Fall 2010 semester, in alliance with the Cornell Center for Materials Research (CCMR).

Shrink Nanotechnologies, Inc. (OTCBB:INKN), an innovative nanotechnology company developing products and licensing opportunities in the alternative energy industry, medical diagnostics and sensors, and biotechnology research and development tools businesses, issued the below update to the market regarding its commercialization efforts as well as the implementation of several new commercial initiatives.

Sigma-Aldrich Corporation (Nasdaq:SIAL) will be presenting at the UBS Global Life Sciences Healthcare Conference on Tuesday, September 21st at 12:30 PM ET in New York, NY.

Spherix Incorporated (Nasdaq CM: SPEX), an innovator in biotechnology for therapy in diabetes, metabolic syndrome, and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced that the Company's pharmaceutical product, D-tagatose, has been selected as one of the top 10 most promising cardiovascular/metabolic therapies in development.  

SuperGen, Inc. (Nasdaq:SUPG), a pharmaceutical company dedicated to the discovery and development of novel cancer therapies, today announced that Mohammad Azab, M.D., Chief Medical Officer, will present at the UBS Global Life Sciences Conference on Wednesday, September 22nd in New York.

Syneron Medical Ltd. (NASDAQ:ELOS), the leading global aesthetic device company, announced today that the Company will participate in the UBS Global Life Sciences Conference on Tuesday, September 21, 2010, in New York City.

ViroPharma Incorporated (Nasdaq:VPHM) today announced the presentation of data from its Phase 1 study of VP20621 (non-toxigenic Clostridium difficile), a novel treatment approach for preventing recurrent Clostridium difficile infections (CDI), a common and dangerous gastrointestinal infection typically occurring in older adults after use of antibiotic medications.  

Zurvita Holdings, Inc. (OTCBB: ZRVT) a dynamic direct-to-consumer network marketing company offering turn-key solutions for high-quality consumer and business products and services, will host its "Decisive Moments National Leadership Conference" in California, Texas and New Jersey this September and October.

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