Below is a look at some of the headlines for companies that made news in the healthcare sector on March 01, 2011.
Pluristem Therapeutics, Inc (Nasdaq:PSTI) (TASE:PLTR) and the Berlin-Brandenburg Center for Regenerative Therapies (BCRT), in cooperation with the Charite - University of Medicine in Berlin,today announced the results of a pre-clinical study demonstrating that the local administration of PLX cells following muscle injury resulted in significant improvement in the recovery of muscle function when compared with the control group. This study suggests that Pluristem's PLX cells have the potential to treat both accidental and intentionally induced muscle injuries.
Subject to regulatory approval, Pluristem plans on moving ahead with clinical trials for muscle injury indications. These trials will be conducted in addition to the anticipated Phase II/III trial using PLX-PAD for the treatment of Critical Limb Ischemia.
The data from the study indicates that PLX cells can be used in several categories of muscle injury, including accidental injuries, such as those incurred during athletic activity, as well as intentional injuries, such as after the incision of a skeletal muscle during surgery. These markets represent a potential annual market of approximately 10 Billion USD.
"This is a landmark study because it is the first to show significant improvement of muscle injuries through the use of placental derived allogenic therapies," said Prof. Dr. Georg N. Duda, head of the Julius Wolff Institute, co-head of the BCRT and principal investigator for the study. "The study demonstrates the great potential that Pluristem's PLX cells hold for treating such injuries and we look forward to continuing to research this application and investigate its positive effects even further."
Shares of gained 17 cents or 7% to $2.64.
Echo Therapeutics, Inc. (OTC Bulletin Board:ECTE.ob), a company developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude SkinPrep System for transdermal drug delivery, today announced that it won the prestigious 2011 North American Frost & Sullivan Technology Innovation Award in Pharmaceuticals and Biotechnology. Echo received this award in recognition of the Prelude SkinPrep System's breakthrough technology.
The Prelude SkinPrep System uses a needle-free, painless technology that removes the outermost layer of skin, the stratum corneum, to permit topical drug delivery or needle-free analyte analysis. For its initial use, Echo's partner, Ferndale Pharma Group, has applied to the U.S. Food and Drug Administration for permission to market the Prelude SkinPrep System to enhance the delivery of topical 4% lidocaine.
Shares of Echo jumped 35 cents or 10% to $3.74.
Apricus Biosciences, Inc. (Nasdaq:APRI) announced today that the European Patent Office will grant a patent for the company's MycoVa product for treating onychomycosis, commonly referred to as nail fungus.
Forest Laboratories, Inc. (NYSE:FRX) announced today that Daliresp (roflumilast) was approved by the U.S. Food and Drug Administration as a treatment to reduce the risk of chronic obstructive pulmonary disease (COPD) exacerbations in patients with severe COPD associated with chronic bronchitis and a history of exacerbations. Daliresp is the first and only selective phosphodiesterase-4 (PDE4) inhibitor approved and is an oral tablet taken once daily. While the specific mechanism by which Daliresp exerts its therapeutic action in COPD patients is not well defined, it is thought to be related to the effects of increased intracellular cyclic AMP in lung cells. Forest expects Daliresp to be available to wholesalers in the second calendar quarter of 2011.
NPS Pharmaceuticals, Inc. (Nasdaq:NPSP) a specialty pharmaceutical company developing innovative therapeutics for rare gastrointestinal and endocrine disorders, today announced the randomization of the last patient in REPLACE, its Phase 3 registration study of NPSP558, a bioengineered form of human parathyroid hormone. REPLACE is a double-blind, placebo-controlled study evaluating the use of NPSP558 as hormone replacement therapy in adult patients with hypoparathyroidism. A total of 135 patients were randomized in this study.
Tengion, Inc. (Nasdaq:TNGN), a leader in regenerative medicine, today announced that it has entered into definitive agreements with certain investors in connection with a PIPE financing transaction. Medtronic (NYSE:MDT), a global leader in medical technology, participated in the financing and, as part of its investment, secured a right of first refusal on Tengion's lead preclinical program, the Neo-Kidney Augment, through October 31, 2013. Upon the closing of the transaction, Tengion will receive gross proceeds of $31.4 million in exchange for the issuance of 11,079,250 shares of Tengion common stock and warrants to purchase 10,460,875 shares of Tengion common stock.
ACCESS PHARMACEUTICALS, INC. (OTC Bulletin Board:ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, cancer supportive care and diabetes, will host a conference call on Wednesday, March 23rd to update investors on its ongoing commercial and development strategy.
AmbiCom Holdings, Inc. (OTCBB: ABHI), a leading designer and developer of wireless products primarily for the wireless medical industry, today announced that it has received an A-Supplier delivery assessment for 2010 from Roche Diagnostics.
Anavex Life Sciences Corp. (OTCBB: AVXL) today announced the appointment of Dr. Jeffrey Cummings to the Scientific Advisory Board as a clinical expert.
AtheroNova Inc. (OTCBB: AHRO), a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, addressed a study presented at the American Stroke Association (ASA) conference that found a dramatic statistically significant increase in ischemic stroke hospitalizations among males and females in all age groups from 5 to 44 years old.
AVI BioPharma (NASDAQ:AVII), a developer of RNA-based therapeutics, announced today that the company is scheduled to present at the Cowen and Company 31st Annual Health Care Conference in Boston on Monday, March 7, at 10:35 a.m. Eastern Time.
BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) today announced that Dan Maher, Senior Vice President of Product Development of BioMarin, will present a company update at the Cowen Health Care Conference in Boston on Tuesday, March 8, 2011 at 8:00 a.m. ET.
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 that Mr. Hongwei Qu, Chairman, President and Chief Executive Officer, and Mr. Gene Hsiao, Chief Financial Officer, will present an overview of the company at the Rodman & Renshaw Annual China Investment Conference.
Bristol-Myers Squibb (NYSE: BMY) announced today that BARACLUDE(R) (entecavir) has been approved by the European Commission on February 28th 2011 to treat chronic hepatitis B (CHB) in adult patients with evidence of decompensated liver disease.
CNS Response, Inc. (OTCQB:CNSO), has entered into a collaborative agreement with Medco Research Institute, LLC, to assess the pharmaco-economic benefits of its online Referenced-EEG® (rEEG) database.Medco Research Institute is the research arm of Medco Health Solutions, Inc., the market leader in pharmacy benefits management.
eHealthInsurance (NASDAQ: EHTH), the leading online source of health insurance for individuals, families and small businesses, released a series of tips to help consumers find the individual and family health insurance plan best suited to their needs and budget.
ERT (Nasdaq:ERES), a global technology-driven provider of clinical services and customizable medical devices to bio-pharmaceutical and healthcare organizations, announced today that the Nasdaq Stock Market has approved a change in the Company's trading symbol.
ExamWorks Group, Inc. (NYSE: EXAM) today announced the closing of its acquisition of MES Group, Inc. ExamWorks paid total consideration consisting of (i) $175 million in cash, (ii) 1,424,501 shares of Company common stock, and (iii) $10 million of assumed indebtedness under MES' credit facility, which was paid off at closing.
Golden Age Resources, Inc. (PINKSHEETS:GDAR) announced today that it has entered into a Letter of Intent to acquire 100% of the issued and outstanding stock of National Clinical Technology Inc. (NCT) and its wholly owned subsidiary Spine & Muscle Rehabilitation, Inc. (SMR), and to acquire 100% of the medical related assets of Westmont Venture Resources, Inc. (Westmont), all of Albuquerque, NM.
Healthnostics, Inc. (PINKSHEETS: HNSS) announced it has been awarded a $493,500 contract for products from its medical manufacturing division. Delivery is scheduled during the current year.
Hiru Corporation (PINKSHEETS:HIRU) (www.hirucorporation.com) subsidiary Jiangxi Shaungshi AHP has announced that two of the company's veterinary products have passed Chinese government testing.
Insmed Incorporated (Nasdaq:INSM), a biopharmaceutical company, announced today that Insmed's shareholders approved the proposal relating to the conversion of Insmed's Series B Conditional Convertible Preferred Stock (Series B Preferred Stock) into Insmed's Common Stock and the proposal relating to the one-for-10 reverse stock split of Insmed's Common Stock presented at the special meeting of its shareholders held today.
Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX), a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease, announced today that Arthur T. Sands, M.D., Ph.D., Lexicon's president and chief executive officer, will present at the Cowen and Company 31st Annual Health Care Conference in Boston on Monday, March 7, 2011 at 4:45 p.m. Eastern Time.
Life Technologies Corporation (Nasdaq:LIFE) today announced it will be webcasting management presentations to investors as part of the UBS West Coast Life Sciences & Diagnostics Bus Trip which is being held at the company's headquarters in Carlsbad on Monday, March 21st at 8:30 AM PT.
Mylan Inc. (Nasdaq:MYL) today confirmed that the company has been sued by Vivelle Ventures LLC, Noven Pharmaceuticals Inc. and Novartis Pharmaceuticals Corporation in connection with the filing of an Abbreviated New Drug Application (ANDA) with the U.S. Food and Drug Administration (FDA) for Estradiol Transdermal System, USP (Twice-Weekly), 0.025 mg/day, 0.0375 mg/day, 0.05 mg/day, 0.075 mg/day and 0.1 mg/day.
Nektar Therapeutics (Nasdaq:NKTR) today reported its financial results for the fourth quarter and year ended December 31, 2010.
NeoStem, Inc. (NYSE Amex:NBS), an international biopharmaceutical company with operations in the U.S. and China, announced today that Dr. Robert Preti, PhD, President and Chief Scientific Officer of Progenitor Cell Therapy, a wholly-owned subsidiary of NeoStem, Inc., has been asked to present on Tuesday, March 1, 2011 at the 6th Annual New York Stem Cell Summit.
Oncothyreon Inc. (Nasdaq:ONTY) announced today that the company will be presenting at the following industry and investor conferences during March: 11th Annual Life Science Innovation Northwest Conference: Julie Eastland, Oncothyreon's Chief Financial Officer, will present at this life sciences conference in Seattle on Wednesday, March 2 at 1:45 p.m. Pacific Time.
Oncolytics Biotech Inc. (TSX: ONC) (NASDAQ:ONCY) today announced that the Corporation's biggest institutional shareholder, has exercised 1,248,800 warrants, issued in connection with the financing that closed on November 8, 2010, providing the Corporation with proceeds of approximately $7.7 million.
Palatin Technologies, Inc. (NYSE Amex:PTN) today announced that it has completed its previously announced public offering of 23,000,000 units, consisting of 23,000,000 shares of its common stock, Series A Warrants to purchase 2,000,000 shares of its common stock and Series B Warrants to purchase 21,000,000 shares of its common stock, at a price to the public of $1.00 per unit.
Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced its operating results for the fourth quarter and year ended Dec. 31, 2010.
UV Flu Technologies, Inc. (OTCBB:UVFT) is pleased to announce that, effective February 25, 2011,the Company's major lenders have agreed to convert 100% of their currently due debt, in the amount of $696,233.70, into restricted common shares of UV Flu common stock at a price of $.07.
Verenium Corporation (Nasdaq:VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today reported a summary of recent Company highlights and financial results for the fourth quarter and year ended December 31, 2010.
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