TranS1 surges on 510(k) clearance. Walgreens acquires Print E-mail
By Staff   
Thursday, 24 March 2011 18:37
Below is a look at some of the headlines for companies that made news in the healthcare sector on March 24, 2011.

Shares of TranS1 Inc. (Nasdaq:TSON) jumped today after the pioneer in minimally invasive approaches to lumbar spine surgery, today announced the 510(k) clearance of the AxiaLIF 1L+ product line, an instrumentation and implant system for L5-S1 lumbar fusion.

The AxiaLIF 1L+ system represents the next generation of the original AxiaLIF 1L system first launched in 2005 that has a clinical history of over 10,000 implants. TranS1 will commence a limited market release immediately with the new implant and instrumentation and anticipates full commercial release in the second half of 2011.

"Our new AxiaLIF 1L+ system further demonstrates TranS1's commitment to continuously advance our proprietary AxiaLIF core technology. The 1L+ system builds upon our successful 2L+ system launched last year," stated Ken Reali, TranS1's President and CEO. "The modular approach of the 1L+, coupled with the tapered tip design, allows for more precise distraction capabilities and improvement in pull out strength. Further, through our minimally invasive pre-sacral access, the 1L+ implant provides a biomechanically stable implant at the base of the spine."

8 million shares traded hands as the stock gained 87 cents or 27% to $4.13.

Walgreen Co. (NYSE:WAG) (NASDAQ:WAG) and online retailer, inc. (NASDAQ:DSCM) today announced a definitive merger agreement pursuant to which Walgreens will acquire in a transaction with a total enterprise value of approximately $409 million.

Shares of surged $2.02 or 113% to $3.81.

Shares of POZEN Inc. (NASDAQ:POZN), moved higher Thursday after the company announced positive top-line results of a Phase 1 study of PA32540, a novel coordinated-delivery tablet of enteric-coated (EC) aspirin (325 mg) and immediate-release (IR) omeprazole (40 mg). The data from the Co-Rx Study suggest that PA32540 given in conjunction with clopidogrel, dosed at least 10 hours apart, resulted in significantly better inhibition of ADP-induced platelet aggregation (anti-clotting) when compared to a current standard of care (81 mg of EC aspirin, EC omeprazole 40 mg and clopidogrel). Additional data from this study are expected to be presented at an upcoming scientific meeting. Shares gained 17 cents to $5.10.

On heavy volume, shares of Unigene Laboratories, Inc. (OTCBB:UGNE.ob) gained 25% after the company announced that the statistically significant top-line results released by its licensee, Tarsa Therapeutics, validate its proprietary oral peptide drug delivery technology. The ORACAL study achieved its primary endpoint and the results support Tarsa’s plans for a New Drug Application submission to the Food and Drug Administration targeted before the end of 2011. The study design and endpoints were agreed with the FDA through a formalized Special Protocol Assessment (SPA) process. Tarsa also plans to submit a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in the first half of 2012.

Ashleigh Palmer, Unigene’s President and Chief Executive Officer, commented, "The positive results from the Phase 3 oral calcitonin trial represent the second game-changing event for the New Unigene since launching our turn-around strategy last quarter! The successful outcome of this study not only validates our propriety oral peptide delivery technology and state-of-the-art recombinant manufacturing capabilities, but highlights our overall competence in the peptide sector. Our mission is to become nothing less than the pre-eminent peptide powerhouse."

Pernix Therapeutics Holdings, Inc. (NYSE Amex: PTX), and SEEK, a leading UK privately-owned drug-discovery group, today announced that they have engaged J.P. Morgan to auction the theobromine assets of the joint venture. The auction will be for the global commercialization rights (excluding Korea) of theobromine. The decision to conduct an auction is based on the interest shown within the pharmaceutical industry for theobromine (BC1036), an antitussive drug candidate in late-stage development that addresses the significant need for a non-opioid, non-codeine treatment for persistent cough.

In South Korea, theobromine (BC1036) has already shown efficacy and non-inferiority versus codeine in a phase III study, and marketing authorization was granted to Ahngook, a South Korean company.

Shares of Pernix jumped $1.58 or 16% to $11.55.

Oncolytics Biotech Inc. (TSX:ONC, NASDAQ:ONCY) today announced that it has completed patient enrollment in its U.S. Phase 2 clinical trial (REO 015) using intravenous administration of REOLYSIN in combination with paclitaxel and carboplatin in patients with advanced head and neck cancers.

 Also Thursday:

American CryoStem Corporation (PINKSHEETS:AMCY) announced today that it has entered into an agreement to sell all of its assets to R&A Productions, Inc. in exchange for a controlling interest in R&A Productions, Inc.

Cardio Infrared Technologies, Inc. (PINKSHEETS:CDOI) a leading Health and Wellness technology and marketing company, announced today the newly designed BioFit™ Stationary Infrared work out Bike is currently in production in Italy and will soon be produced in the US.

Imaging3™, Inc. (OTCBB: IMGG), developer of a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time, today announced that its Board of Directors has approved the repurchase of an aggregate of up to 5% of its outstanding Common Stock, by the Company's management, effective immediately.

MethylGene Inc. (TSX:MYG) today announced a $34.5 million private placement that attracted prominent U.S. life science investors Baker Bros. Advisors, Tavistock Life Sciences, OrbiMed Advisors, QVT Financial and Tang Capital. Current shareholders ProQuest and Fonds de solidarité des travailleurs du Quebec (FTQ) will also be re-investing.

Vicor Technologies, Inc. (OTCBB: VCRT), today announced that Daniel N. Weiss, MD, FACC, Vicor's Chief Medical Officer, addressed a meeting of The Royal Melbourne Hospital cardiologists.

VisualMED Clinical Solutions Corp. (PINKSHEETS:VMCS) (FRANKFURT: VA6) announces the posting of its operating results for the second quarter of fiscal 2011.

XenaCare Holdings, Inc. (OTCQB:XCHO) announced today that it has elected attorney Carlos J. Bonilla, to the Board of Directors.

"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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