Icagen soars on Pfizer milestone payment. Keryx reports positive phase III results Print E-mail
By BioMedReports.com Staff   
Tuesday, 30 November 2010 19:33


Below is a look at some of the headlines for companies that made news in the healthcare sector on November 30, 2010.

On heavy volume shares of Icagen, Inc. (Nasdaq:ICGN) soared Tuesday after the provided an update on its sodium channel program for pain and related disorders which is being conducted in collaboration with Pfizer. The company reported that the selection by Pfizer for this compound has triggered a $1.0 million milestone payment to Icagen.

The companies recently conducted a clinical study in healthy volunteers of several collaboration compounds targeting the sodium ion channel Nav1.7. Data obtained in this study has led the companies to select one of these compounds to advance into further clinical studies.

In September of this year, Pfizer and Icagen renewed and extended the research term of their collaboration through year-end 2011. Icagen is eligible to receive approximately $359 million upon achievement of specified research, development, regulatory and commercialization milestones for products under the collaboration, and is also eligible to receive tiered royalties, against which the commercialization milestones are creditable, based upon product sales.

6.7 million shares traded hands today,pushing Icagen up 96 cents, nearly 79% to $2.18. The stock moved up another 6 cents after the close.

Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) was in the spotlight today after the company announced positive top-line results from the Phase III short-term efficacy study component of its Phase III registration program of Zerenex. The experimental drug is an ferric iron-based phosphate binder for the treatment of elevated serum phosphorus levels, or hyperphosphatemia, in patients with end-stage renal disease on dialysis. In this study, conducted pursuant to a Special Protocol Assessment with the Food and Drug Administration, Zerenex met the study's primary endpoint as well as secondary endpoints, and appeared to be safe and well-tolerated. The full results will be presented in detail at a future conference.

Shares of Keryx opened higher on the news, hitting an intra-day high of $5.91 before pulling back and closing at $5.46, up 10 cents. The stock has traded between $2.22and $6.67 over the past 52 weeks.

Shares of TapImmune Inc. (OTC.BB:TPIV) surged more than 44% Tuesday on no apparent news. The stock has been highlighted by BioMedReports recently as an immunotherapy bottom play. Shares closed the day at $.0245 up 7.5 cents.

Also Tuesday:

BIOLASE Technology, Inc. (NASDAQ: BLTI) the world's leading dental laser company, announced today that accounting veteran and former audit partner Frederick D. Furry has been appointed Chief Financial Officer, effective immediately, filling the vacant position.

Biomerica, Inc. (OTCBB: BMRA) today announced that the company has been awarded over $357,000 in grants under the Qualifying Therapeutic Discovery Project (QTDP) program.

Chembio Diagnostics, Inc. (OTCBB:CEMI), which develops, manufactures, markets and licenses point-of-care diagnostic tests, reported today that it has entered into a new Technology Transfer Agreement with the Oswaldo Cruz Foundation of Brazil ("FIOCRUZ") relating to its DPP® point-of-care tests for Syphilis.

CONMED Corporation (NASDAQ:CNMD), a medical technology company specializing in medical devices for surgical and patient monitoring markets, announced today that the Company has amended its existing senior credit facilities to provide for a five-year, $250 million senior secured revolving credit facility.

Daxor Corporation (NYSE Amex: DXR), a medical instrumentation and biotechnology company, today announced that the Board of Directors has voted to declare a dividend of $0.65 per share.

Echo Therapeutics, Inc. (OTC Bulletin Board:ECTE), a company developing its needle-free Symphony™ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system and its Prelude™ SkinPrep System for transdermal drug delivery, today announced that its Symphony System was profiled in the November 29, 2010 issue of Diabetes Health magazine.

Entest BioMedical Inc. (OTCBB: ENTB) provided an overview of its near term safety study on ImenVax™, the Company's immuno-therapeutic cancer vaccine for dogs.

First China Pharmaceutical Group, Inc. (OTCBB:FCPG) is pleased to announce the November 29th signing of a Letter of Intent towards the acquisition of 100% of the interests of Shandong Run Kang Pharmaceutical Co. Inc. of Jinan City, Shandong Province, Peoples Republic of China.

Hansen Medical, Inc. (NASDAQ: HNSN), a global leader in flexible robotics and the developer of robotic technology for accurate 3D control of catheter movement, today announced the opening of its new European headquarters in London that will serve as the hub for its commercial, training and physician support activities for its business outside the U.S., including the planned launch next year of the company's currently investigational flexible catheter vascular robotic system.

InoLife Technologies, Inc. (OTCBB: INOL), a service based healthcare products development, integration and marketing Company announced today that it will exhibit at the 18th Annual World Congress on Anti-aging Medicine and Biomedical Technologies, (A4M) convention held at the Mandalay Bay Convention Center in Las Vegas, Nevada on December 9-11.

Integrated Management Information, Inc. (IMI Global) (OTCBB:INMG), a leading provider of verification and Internet solutions for the agricultural/livestock industry under the Where Food Comes From® brand, today announced completion of a program that makes Yankton Livestock Auction Market the nation's first sale barn approved under IMI's PVP umbrella for Verified Natural Beef™ (VNB), non-hormone treated cattle (NHTC) and source and age verification (SAV).

Kraig Biocraft Laboratories, Inc. (PINKSHEETS:KBLB) announced today the release of a short video featuring interviews with the Company CEO and a leading member of the scientific team outlining the Company's technology breakthrough and its commercial potential.

Martek Biosciences Corporation (Nasdaq:MATK) announced today that it intends to release its fourth quarter and fiscal year 2010 financial results on December 8, 2010, at approximately 4:00 p.m. Eastern Time (ET).

MMRGlobal, Inc. (OTCBB:MMRF) (MMR) today announced it has signed a settlement agreement with the Lymphoma Research Foundation (LRF), resolving its lawsuit with LRF and giving the Company exclusive control of certain data and tissue samples created during trials of Favrille, Inc.'s FavId™ vaccine.

Optimer Pharmaceuticals, Inc. (Nasdaq:OPTR) today announced that it has completed the submission of its New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for fidaxomicin to treat patients with Clostridium difficile infection (CDI) and to prevent recurrences of CDI.

PATIENT ACCESS SOLUTIONS INC. (PINKSHEETS: PASO) AND IMEDICOR INC. (OTCBB: VMCI), a New Jersey/New York based, healthcare IT consulting firm with a demonstrated track record of providing critical IT support for clinical and financial applications to the healthcare industry, today announced a partnership with New Jersey Health Information Technology Extension Center (NJ-HITEC).

Premiere Publishing Group, Inc. (OTCQB: PPBL) (OTCBB: PPBL) is pleased to announce the signing of a Letter of Intent with Xi'an Johnson Pharmaceutcial Ltd.

ProAssurance Corporation (NYSE: PRA) today completed its previously announced acquisition of American Physicians Service Group, Inc. ("APS") (NASDAQ: AMPH). As a result of the merger, APS is now a wholly-owned subsidiary of ProAssurance.

Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today the signing of a Letter of Intent ("LOI") to form an exclusive distribution agreement and collaborative business development partnership with Colombia-based PROCAPS S.A.PROCAPS is a top tier Latin American healthcare distribution company currently commercializing oncology and other therapeutic products throughout countries in Latin America.

Regenicin, Inc. (OTC Bulletin Board:RGIN) a biotechnology company specializing in the development of regenerative cell therapies to restore the health of damaged tissues and organs, recently received its Central Contractor Registration (CCR) from the U.S. Government.

Remedent, Inc. (OTCBB: REMI), an international company specializing in research, development and the manufacture of oral care and cosmetic dental products signed an agreement with Small Caps Finance SA to open at least two Glamsmile Studios in Brussels, Belgium and Milan, Italy with an option for Rome, Italy as well.

Rosetta Genomics, Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based molecular diagnostics, today announced it entered into a definitive agreement on November 29, 2010, to sell securities to institutional investors in a private placement for aggregate gross proceeds of approximately $2.5 million.

WaferGen Biosystems, Inc. (OTC Bulletin Board:WGBS), a leading developer of state-of-the-art genomic analysis systems, today announced that the University of Southern California (USC) has purchased the WaferGen SmartChip system for its USC Center for Molecular Pathways and Drug Discovery to discover and validate biomarkers for pancreatic and colorectal cancer applications to expedite the development of a cancer therapy.

World Health Energy Holdings, Inc. (PINKSHEETS: WHEN), a public holding company operating in the alternative energy sector, is now in full compliance with all financial reports required under the Securities Exchange Act of 1934, including the satisfactory completion of the financial audits for fiscal years 2007 through 2009.


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